Are Economy 10 tariffs available yet? | The OVO Forum (2024)

FAQs

Are Economy 10 tariffs available yet? | The OVO Forum? ›

Great question! OVO

OVO Energy Economy 7 and Economy 10 tariffs

Over seven hours, typically somewhere between 10pm and 8am, you pay lower rates for your energy.

Economy 10 tariff works best when your heater and appliances are run during ten cheaper hours in the late evening or during the night. It is also the best choice for electric rather than gas heating systems.

Yes, you can get a smart meter if you're on an Economy 7 or Economy 10 tariff. Your supplier is obliged to offer you a smart meter as part of the rollout. Whether you can get a smart meter right now depends whether your energy supplier is ready to install one for you.

OVO offers renewable energy through its fixed tariffs but predominantly as a free “extra” rather than as standard. For instance, at the time of writing, customers can sign up to its 1 Year Fixed + Greener Electricity tariff which includes renewable electricity, as opposed to its 1 Year Fixed tariff, which doesn't.

We've got a range of Restricted Hours tariffs which offer from 8 to 15 hours on the cheaper, off-peak rate per day. Some even give you the cheaper rate all weekend, from Friday through to Monday. It has two meters; one is for your heating and sometimes hot water, the other is for your normal usage around your home.

The problem is the way the electricity wholesale price is set, which is outside OVO's control. The price is set each half hour to the price of the last unit required to meet demand. At the moment that last unit is almost always generated by gas, so is expensive.

Studies have found that Trump's tariffs reduced real income in the United States, as well as adversely affecting U.S. GDP. Some studies also concluded that the tariffs adversely affected Republican candidates in elections.

The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024. Steel is a vital sector for the American economy, and American companies are leading the future of clean steel.

Tariff rates, i.e., taxes levied by foreign customs on the value of imported products and/or taxes and other fees, vary depending on the product and country, existence of a preferential trade agreement and other reasons.

How can I switch to Economy 10? ›

A standard meter will only give you one meter reading, whereas for Economy 10 you will need two different meter readings. As such, switching to an Economy 10 tariff may mean having a new meter installed. Your energy supplier will be able to do this for you, but may charge a fee to do so.

If your mobile signal is weak

Communications coverage is one of a range of technical and commercial reasons why your supplier may not offer you a smart meter just yet. But a range of technologies is being used in the rollout, not just mobile signals. It's best to ask your supplier to understand when you can get one.

It's fairly easy to work out whether you have an Economy 7 meter. The meter itself will have two sets of numbers - one marked 'low' (meaning 'night') and one marked 'normal' (meaning 'day'), though your meter might not look exactly like the one in our picture.

Ovo Energy scores for January to March 2024

Ovo Energy ranked 3rd in the supplier comparison table.

We'll install your smart meter at no up-front cost to you.

UW is the cheapest energy provider for variable energy tariffs on the market when you bundle our award-winning services. Or choose one of our great value fixed tariffs for peace of mind on energy costs. In addition, UW has won Best Value for Money and Best Customer Service at the Uswitch 2024 Energy Awards!

As of 2023, the UK Government has indicated that the Economy 7 tariff is being phased out. This is in alignment with their plan to close all coal-based power plants by 2030. However, off-peak tariffs in general are not being phased out, though there might be changes in how they're managed.

You can also take advantage of the evening and weekend electricity rate for appliances like washing machines and dishwashers. Your cheaper evening and weekend rate is from 7.30pm to 7.30am on weekdays and from 7.30pm on Fridays through to 7.30am Mondays.

2 MPAN Economy 9 – This type of meter provides nine hours of cheaper electricity specifically for room and water heating at various times of the day on the off-peak rate. We charge for electricity for all purposes (other than room and water heating) at the relevant day or off-peak rate.

Is Boost and Ovo the same company? Essentially, yes. Boost Power is part of the Ovo Group, which owns Ovo Energy. Boost Power was specifically created to serve as Ovo's dedicated brand for PAYG energy customers, while Ovo's energy plans are all monthly direct debit tariffs.