Headquarters Bristol, England
Who are they?
Ovo Energy is one of the select few independent energy companies in the UK seriously challenging the Big Six, currently holding a 2.4% market share with around 670,000 customers. 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 now employ around 1000 employees in Bristol and London. Their business model is to give the customer the cheapest possible price for their gas and electricity needs, lowering the unit rate closer to that of its wholesale value. They also have an extreme focus on creating a sustainable world. Customers can opt for the ‘Greener Tariff’ in which 100% of the electricity received is renewable. Ovo have also protected over 100,000 acres of the South American rainforest in a bid to join the effort to protect it as much as possible.
Ovo’s customer service ratings are amongst the best in the business, and according to ‘Which?’, they are the best. In Which?’s 2015 customer service review, Ovo were placed at number one, receiving a score of 82% satisfaction from 8902 customer reviewers. Amazingly they have also obtained a rating of 8.9 out of 10 from 4277 reviewers on Trustpilot, a website that sees the likes of Scottish Power with 0.2 out of 10, and Npower with 0.3 out of 10. It seems as though their efforts to bypass the corporate mentality of the Big Six have allowed Ovo to simply focus on the need of the customer and resolve any issue they may face.
Ovo Energy offer three simple plans for your household energy needs: 'Better Energy', a 12 month fixed unit rate tariff; 'Simpler Energy', a variable rate with no contract; and 'Greener Energy', a 12 month fixed rate with 100% renewable electricity. This simplistic manner of offer segmentation eliminates any confusion of offer-overload; the customer can simply decide which of the three options is of most value. As searched on 11th November 2016, the unit price for Ovo’s ‘variable’ tariff in the North Yorkshire area is 12.4p per kWh of electricity and 3.42p for gas, whereas in Bournemouth is 12.58p for electricity and 3.68p for gas.