Ovo looks to acquire Spark Energy (update 27/11/2018)
Spark Energy collapsed last Friday leaving 290,000 customers without a supplier. A decision has yet to be finalised on which company will take over the supply however, Ovo is widely expected to take over Spark Energy's customers. You can call our energy helpline to find out the latest on what this means for your situation call: 0345 130 8966 or request a callback from one of our advisers.
Name Ovo Energy
Ovo Energy is one of the UK’s most popular independent energy suppliers. The company currently holds a 2.5% market share and is one of a handful of suppliers that are really competing with the infamous Big Six. They have offices in Bristol and London and currently supply gas and electricity to around 680,000 customers nationwide. They are known for their innovative attitude as a company and their green outlook on the supply business.
Ovo Energy are one of the best-performing companies nationwide for customer service in the energy industry. Throughout the many review platforms across the web, Ovo Energy always seem to come out with glowing reviews. In Which?’s 2017 customer satisfaction survey, Ovo Energy came joint 6th out of 31 energy providers. They scored a total of 72% satisfaction overall, scoring 5 stars in 3 of the 4 categories. This was much higher than any of the Big Six companies, Npower even coming in last place.
On Trustpilot, which is known for its negative reviews, Ovo Energy have excelled massively. From 16,906 customers, they have managed to score a huge 8.8 out of 10 score. 74% of these reviews were of 5 stars, the maximum possible that can be given. Many of the reviews were in reference to their cheap prices and easy to understand bills, but more importantly, their customer service: whenever people did encounter an issue, Ovo Energy resolved it quickly and efficiently.
Here we can see that Ovo Energy have performed well in all areas of the reviews-sphere. It is advisable for independents to focus largely on customer service, as this gives them an edge over their larger competitors, but as Ovo Energy have grown, we haven’t yet seen any dip in customer service levels. We believe that they are certainly one of the best energy suppliers in terms of customer service, so if this a priority, they may be for you!
If you would like to login to your Ovo Energy online account to manage your bills without having to call anybody, then you can do so by clicking the button below. If this is your first time logging in, you can click the ‘First time logging in?’ option on the main login screen to set a new password and create an account. If you have forgotten your password you can click the option below to reset it. Once you are logged into your account you will be able to do the following:
- Pay your bills online
- Apply for a smart meter
- Submit meter readings
- See your bills online
- View usage history
If you would like to login to your account now, you can do so by clicking the button below:
Tariffs & Prices
Despite Ovo Energy being a ‘smaller supplier’ they still have a huge range of tariffs to suit the needs of a variety of customers. As such, it is pretty difficult to keep up with their many price updates. The best way to get an up to date comparison would be to give us a call; however, until then you can see a premade tariff quotation below for the 13 pricing reasons across the country.
Below you can see the tariff label information (TLI) for Ovo Energy’s ‘Better Energy’:
|Region||Elec price per kWh||Elec yearly price||Elec TCR||Gas price per kWh||Gas yearly price||Gas TCR||Dual Fuel Yearly|
|North East EN||14.50p||£524.51||16.92p||3.08p||£460.01||3.68p||£984.52|
|North West EN||14.35p||£519.86||16.77p||3.17p||£471.26||3.77p||£991.12|
|Merseyside & N Wales||15.24p||£547.45||17.66p||3.17p||£471.26||3.77p||£1,018.71|
|South East EN||14.70p||£530.71||17.12p||3.22p||£477.51||3.82p||£1,008.22|
|South West EN||15.39p||£552.10||17.81p||3.33p||£491.26||3.93p||£1,043.36|
At time of writing (Feb 18), Ovo Energy’s cheapest tariff is their ‘Better Energy (all Online)’, which costs an average of £873.85 per year. This is roughly £40 more expensive than the cheapest tariff on the market. As such, you won’t be spending a great deal more and you would be getting top class customer service.
Ovo Energy are one of the most notorious green energy suppliers in the country. They provide a number of part-renewable tariffs (33%) and one 100% renewable energy tariff called ‘Greener Energy’. This kind of tariff is fantastic if you would like to do your bit for the environment.
Due to OFGEM regulations, all energy suppliers in Great Britain are now required to submit publicly available information about their fuel mix composition. This means splitting their generation sources into percentage representations. This has been done to put more of an emphasis on the push towards renewable energy.
The current average for renewables in the United Kingdom is 24.2%, which has been absolutely destroyed by Ovo Energy with 64.7%. They take no energy at all from Coal and Nuclear. They take 100% of their energy from just two sources: natural gas; and renewables. Natural gas is common amongst most larger suppliers as it is relatively cheap and is not as harmful for the environment as coal. That said, this will most likely change for Ovo Energy, as they are one of the most green-centred companies out there.
Ovo Energy now provide smart meters throughout all areas of the country, with 45% of their customers already having been installed with one. Like all suppliers, they have a unique design and functionality; however, work on the same network as all other companies, meaning switching still is not a problem. Installation and setup is completely free and is available for all new and existing customers. You can learn more about smart meters by clicking this link.
This vast availability has come as a result of the Government’s national rollout which is set to be complete by 2020. This means that they wish to have every single home in Great Britain installed with a smart meter by this time. At present, not all suppliers provide them, but the Government is looking into facilitating methods to ensure that everyone has the option.
If you do not yet have a smart meter and you want to avoid estimated readings, you may want to think about submitting monthly meter readings. This will ensure Ovo Energy have your correct usage amount and you aren’t overpaying on your gas and electricity bills. If you are not sure about how to reading your meters, you can learn how by clicking here. All meter readings submissions can made through your ‘my account’. Click the button below to be redirected to your account login.
About Ovo Energy
Ovo Energy's green office. Source: Plantcare
Ovo Energy is one of the select few independent energy suppliers in the UK that is seriously challenging the Big Six, currently holding a market share of around 2.5%. This gives them a customer base of
The company was started by a couple of friends around the kitchen table hoping to bring a more customer-focused, fairer, more reasonably priced energy service to the market. They have done this by bring the unit rate closer to that of the wholesale price, even for their renewable tariffs. As a green supplier, Ovo Energy have been extremely environmentally conscious, even protecting over 100,000 acres of the South American rainforest.
Ovo Energy is an independent energy supplier, meaning that they are not owned by any external shareholders. They are 100% funded by themselves and operate using their own methods and strategies. This seems to be an attractive business model nowadays for many energy suppliers, and is something that is being thought about by energy giants SSE and Npower in their potential merger.
In their latest public accounts records (2016), Ovo Energy reported an annual revenue of £717m, which gave them a profit of £25.5 million, rather impressive for a ‘small’ energy supplier. However, to put this into context, British Gas, the nations most popular supplier made a supply profit of £487.8 million in the same year, over 19 times more.
Within this statement, they also revealed their plans for the coming years, which they hope will bring in even more revenue. This included ‘Boost’, ‘VCharge’ and ‘IHT and CORGI HomePlan’. You can read more about this by clicking the button below.