OVO customers on fixed deals higher than the government’s £2,500 bill cap could save £100 before Christmas by switching tariffs.
The Energy Price Guarantee (EPG) came into force on Sunday, freezing bills for two years.
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However, six million customers on fixed tariffs which are higher than the cap raised concerns that they would face paying more for their energy bills.
But new rules mean these customers can simply move on to the cheaper standard variable tariff, which is protected by the EPG – and they won’t incur a fee.
OVO said switching from pricey fixes to its cheapest tariff can save customers £100 by Christmas.
Its cheapest tariff is a Standard Variable Tariff called Simpler, and any one of OVO’s customers can also switch onto this tariff, free of charge.
OVO chief executive Raman Bhatia said: “We want to support customers this winter and beyond.
“That’s why we’re reviewing all tariffs to make sure customers are getting the best price for their energy.”
OVO will be contacting customers about how they can switch today.
If you haven’t heard from the supplier, it might be worth contacting customer services on 0330 303 5063.
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Other suppliers have also confirmed that they’ll waive exit fees for those looking to move contracts, or automatically move them onto the EPG tariff.
Usually, customers have to pay a penalty if they want to leave their energy deal early.
But as households battle against an energy bills crisis, these rules have been waivered.
British Gas and Octopus Energy said that all customers on fixes with a higher unit rate than the EPG will be automatically switched to pay the lower rates.
EDF Energy, E.ON and E.ON Next and Shell Energy have confirmed that it will suspend its exit fees for those wishing to move off a fixed deal and onto the standard variable tariff.
The Sun also contacted Bulb, Scottish Power and SO Energy to find out whether they will allow their fixed energy customers to move to the variable rate.
It comes as millions have started to receive the £400 energy bill discount.
All households in England, Scotland and Wales will get a £400 energy bill discount.
It will be paid in six monthly instalments from October until March 2023.
Households will see a discount of £66 applied to their bills in October and November, and £67 in December, January, February and March.
It’s up to energy suppliers to dish out the discount – and how they will pay it varies.
British Gas, EDF Energy, Ovo Energy and Scottish Power have confirmed they will credit the discount to customers’ bank accounts for those paying their bills by direct debit.
Bulb, E.ON and E.ON Next, Shell Energy, Octopus Energy, So Energy, Utilita and Utility Warehouse will not pay the discount into customer bank accounts.
How can I save on my energy bills?
One of the easiest ways to cut costs is to make sure your appliances are switched off properly.
The worst offending energy guzzlers from TVs to games consoles could be adding hundreds to your bills.
Insulating your home properly could also save you hundreds of pounds per year.
Hundreds of thousands of people overpay by £246 on heating bills due to poor insulation, but fixing that can reduce costs.
For example, buying a draught excluder for as little as £3 could save you £200 on bills in the long run.
You can also get free cash to insulate your home – here’s how one savvy saver did it.
Plus, here are 10 gadgets that could save you hundreds of pounds this winter on your energy bills.
