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Launching in 2009, OVO Energy started life with an admirable mission: to make energy cheaper, greener and simpler. Their green credentials have always been at the forefront of what they do, implementing a plan to be a net-zero carbon business by 2030, aptly named Plan Zero.

Citing 26% of the average UK resident’s carbon footprint is derived from home energy, it’s no wonder it’s where OVO Energy believe people can make a real difference. In 2011, the company’s founder Stephen Fitzpatrick appeared in Parliament to champion fairer energy for consumers, and in 2015 they were the first supplier to the UK market that removed coal and nuclear from their energy mix.

The OVO Foundation is the company’s charity. It was created in 2014 to tackle 3 major social issues: homelessness, educational inequality and access to energy. They supply clean, renewable power to rural Africa and support people from underprivileged backgrounds into education. OVO also seek to improve young people's lives through innovative projects and affordable housing, proving they’ve got a big heart with a solid commitment to businesses becoming ‘better for everyone’.

Ownership

Founded in the UK in 2009, the company launched their international arm in 2018. Part of the OVO Group which is a subsidiary of Imagination Industries Ltd, wholly owned by OVO Energy founder Stephen Fitzpatrick. 

In 2019, the Mitsubishi Corporation bought a 20% stake in the company, following the only prior sale of equity to Mayfair Equity Partners in 2015.

Location

The headquarters of OVO Energy is in Bristol, England:

1 Rivergate Temple Quay

Bristol

BS1 6ED

If you choose to switch through Love Energy Savings, one of our representatives will contact OVO Energy's team on your behalf, saving you the hassle of back and forth communications. That way, you get the energy tariff you want with minimal fuss.

Tariffs

Business Tariffs

As of the 29th of September 2016, OVO Energy withdrew from the business energy market. Therefore, they no longer offer business tariffs.

Domestic Tariffs

OVO Energy offers two fixed-tariff options for household users, which are designed to secure a rate that doesn’t change for a predetermined period. 

  • Better Energy - OVO’s 12-month fixed-rate contract payable by direct debit and managed through their easy-to-use app. Submit meter readings or take advantage of their smart meters for a seamless service and full visibility and control.
  • 2 Year Fixed Energy - Like their 12-month fixed-rate offering they offer a longer fixed-term option for ongoing peace of mind. This is OVO’s most popular energy tariff.
  • Simpler Energy - The only variable-rate plan OVO offer lets you take advantage of rises and falls in market prices, whilst letting you have the flexibility with no commitment.

All OVO tariffs have the option to bolt-on 100% renewable green energy for £5 per month. Without this added benefit, your energy still maintains its green credentials with 50% renewable as standard.

Supply Source

OVO Energy splits its energy supply across just two sources.



  • Natural Gas - 61%
  • Renewable - 39%

 

Compare these statistics to the typical fuel mix from UK suppliers in our wholesale energy guide.

Financial Performance

The latest financial information for OVO Energy Limited Year-End 2018 and is as follows:

Metric Total Year on Year Change
Revenue £936.4m +23%
Gross profit £70.8m -44%
(Loss)/profit for the year (£45.6m) -£48.9m

 

Awards

In 2015 and 2016 consecutively, Octopus was awarded the title of Which?’s Recommended Energy Supplier, which is testament to their customer satisfaction and reflects their primary motivation of putting their customers first. They won World’s best energy Brand in 2016, which More recently OVO Energy have acquired SSE, which saw them inherit a further 3.5 million customers.

OVO Energy has several awards under its belt by striving to become the leader in renewable energy and their carbon zero goal. Here’s a list of their most notable wins:

  • uSwitch Supplier of the Year 2019
  • Stephen Fitzpatrick named Entrepreneur of the Year, BusinessGreenAwards 2018
  • UK’s 20th Best Company to Work For, Sunday Times Best Companies 2017
  • uSwitch Supplier of the Year 2017
  • World's Best Energy Brand at CHARGE 2016 - the World's First Energy Branding Conference 
  • Best Customer Service Team in Europe at the 2016 European Contact Centre and Customer Service Awards 2016

Cancellation Policy

You can leave OVO Energy at any point, after your cooling-off period, the standard 14 days, your switch to them will begin but are free to leave as and when you want. 

On their fixed energy tariffs, you’ll need to pay £30 exit fee for each fuel. It’s worth noting, any debit balances built up in your account will need to be cleared and will be billed on your final statement.

Green Performance

OVO Energy’s green credentials are a driving force for OVO Energy. Plan Zero is there plan to become a carbon zero business by 2030 with sustainable solutions in a bid to help the climate crisis. Their recent sale of equity means they’ll be joining forces with Mitsubishi - a leading player in offshore wind power. They are heavily investing in technology to maximize efficiencies, with initiatives such as vehicle-to-grid charger than lets owners sell surplus electricity from their vehicles back to the grid.

How to switch to OVO Energy

Love Energy Savings can handle a switch to OVO Energy for you, whether you're changing supplier or you just want a better OVO Energy tariff to match your needs. We’ll handle the rest for you including liaising with the OVO Energy team on your behalf. 

Enter your details here to generate an OVO Energy quote for your home or business. Simply choose the tariffs that are right for you.

See how much you could save on your business energy in 60 seconds!

Energy saving FAQs

  • What is an energy broker?

    An energy broker acts as a third party intermediary between commercial energy suppliers and businesses. Energy brokers work with several energy providers and can help businesses compare lots of prices for energy at once - saving you the hard work of shopping around for seperate energy quotes.

  • How can I compare the market for business energy?

    The easiest way to compare the market for business energy is to request a quote for business energy. Here at Love Energy Savings, we work with many well-known business energy providers, as well as several independent suppliers to bring our customers the most competitive quotes for business gas and electricity. This makes it very easy for businesses to compare quotes and choose the right one for their business.

  • What are the different business tariff options

    Businesses can choose between fixed-rate tariffs and variable-rate tariffs on business energy. Fixed-rate tariffs mean the price you pay for gas or electricity is fixed for a period of time, so if energy prices fluctuate, the price you pay will not be affected. These contracts are fixed for a period of time, from 12 months to 5 years.

    Variable-rate tariffs respond to energy market trends, so if the cost of energy increases, you will have to pay more for the energy you use. However, if market prices drop, you will pay less for the energy you use. You are not tied into a contract with a variable-rate tariff. To leave your supplier, you simply need to provide 30 days’ notice.

  • What is green business energy?

    Green business energy is a more environmentally friendly way to power your business. If you buy your business energy from a green energy supplier, your supplier is promising to match some or all of the electricity you use with renewable energy, which is then fed back into the National Grid.

    Read Love Energy Savings Guide to Green Energy Deals for more information.

  • What information do I need if I want to switch business energy?

    You will need to make sure you’re choosing the best deal for your business when switching your business energy supplier. To accurately compare quotes, you will need the following details which you’ll find on your energy bill:

    • Your supplier name
    • Your monthly payment amount
    • Current energy consumption and unit rate (kWh)
    • Your MPAN number, also known as supplier number

    With this information, you will be able to compare new quotes against your current rate. When you find the right deal for you, you can switch your business energy.

  • List of business energy suppliers

    At Love Energy Savings, we work with the following energy suppliers:

    • Avanti Gas
    • British Gas
    • CNG
    • Crown Gas & Power
    • Dual Energy
    • EDF
    • EON
    • Gazprom Energy
    • Npower
    • Octopus Energy
    • Opus
    • Scottish Power
    • Total Gas & Power
    • Utilita
  • What should I do if I’m moving business premises?

    If you’re moving business premises, there are a number of things you need to do:

    • Contact your energy provider and tell them when you’ll be leaving the premises
    • Provide a final meter reading and keep a copy for your records
    • Leave Direct Debits in place until your contract has been fully terminated.

    When you get to your new business premises it’s essential you set up a new energy contract as soon as possible to prevent you from being overcharged for your business energy:

    • Take meter readings as soon as you move in
    • Compare energy prices as soon as possible
    • Choose a new supplier and give them your meter readings and confirm the date you moved in
  • Do business energy quotes include VAT and CCL charges?

    At Love Energy Savings, we include additional charges such as VAT and CCL in our quotes. For a full breakdown of costs, click ‘more details’ on all quotes provided in our comparison engine results page.

  • Can charities and not-for-profit organisations get discounts on business energy?

    Charities and not-for-profit organisations many not receive energy discounts but they can get reductions on VAT (from 20% to 5%) and be exempt from the Climate Change Levy, which could help reduce energy bills overall. Discounts are not automatically applied, so make sure you speak to one of our experts about getting these discounts applied to your energy bills.

    Read our helpful article Is Your Charity Making The Most of VAT Reduction on Its Energy Bills? for more more information.

  • How do I switch business utilities?

    Switching business utilities is very easy. Simply start by comparing utility prices, when you have found the right deal for your business, click ‘switch now’ to complete your switch online.

    At Love Energy Savings, we’ll handle negotiations between suppliers too, making the whole process as stress-free as possible.

  • Who is the cheapest energy provider for businesses?

    The cheapest energy provider for businesses will depend on a number of factors, such as:

    • Your location
    • The size of your premises
    • Your current supplier
    • Current spend on business energy
    • Current consumption of kWh units and current standing charges
    • Meter type (standard, economy 7, maximum demand or half hourly)

    The easiest way to find the cheapest energy provider is to compare energy prices.

  • Who is the best energy supplier?

    Choosing the best energy supplier for your business is very important. You want to know that the provider you choose will value you as a customer, that you’ll receive excellent customer service and that the company acts with total transparency.

    Which? consumer magazine published a survey that compared key suppliers on a number of factors including:

    • Bill accuracy
    • Customer service (phone)
    • Customer service (online)
    • Complaints handling
    • Helping you understand and reduce energy use
    • Value for money

    Take a look at the ‘Best and worst energy companies for 2019’ survey for more information.

  • How can I fix business energy prices?

    If you want to fix the price you pay for business energy, simply choose a fixed-price tariff. Energy providers fix prices from 12 months up to 5 years, so just choose the one that you feel suits the needs of your business the most.

  • How long will it take to switch?

    Once you’ve found your new, cheaper tariff, it takes between 4 and 6 weeks to complete the switch from one supplier to another. We will manage this process for you, so you don’t have to. The transfer is seamless; your energy will not be cut off as a result of switching. We’ll keep you up-to-date if there are any transfer issues. If you have any queries before or after the switch, please don’t hesitate to contact your personal Account Manager on: 01204 372 746.

  • Will my business be disrupted when I switch?

    There won’t be any disruptions to your supply, so it will be business as usual! We’ll liaise with your existing supplier and negotiate the entire process for you. We’ll let you know when your switch has been completed.

  • How much could I save by switching my energy provider?

    How much you can save is dependent on how much energy you use. But, on average, businesses with an electricity bill of £2,400pa (consumption below 50,000kWh), can expect to save up to £943 when they switch.

  • What do I have to do to switch my business energy supplier?

    Switching your business energy has never been easier. Once you’ve found a supplier and quote which suits your business’ needs simply hit ‘Buy Now’ or wait for one of our agents to contact you. Once you’re happy to proceed, we’ll handle the entire switch for you. We’ll need a few additional bits of information along the way, but this will all be explained in your welcome pack

  • Do energy prices change depending on your location?

    Yes – you will find that energy prices change from region to region.

    Factors that influence pricing will depend on:

    • The number of suppliers that sell energy in that region
    • The number of suppliers that buy from the generators in that region
    • The charges local distribution networks put onto your energy supply