OVO Energy has established itself as a key player in the UK energy market, catering to households and businesses with competitive gas and electricity solutions. In this article, we’ll explore OVO Energy’s business prices, detailing the range of tariffs available and the features designed to meet the needs of small to medium-sized enterprises (SMEs). By the end, you’ll have a clear understanding of whether OVO Energy is the right fit for your business energy needs.
An overview of OVO Energy for businesses
OVO Energy, founded in 2009, has grown rapidly to become one of the largest energy suppliers in the UK. Its mission is to provide affordable, sustainable energy solutions while leading the charge in carbon reduction. While OVO is well-known in the domestic energy market, its business energy services are also tailored to offer cost-effective tariffs and innovative features for companies of various sizes.
OVO Energy business prices list
| Tariff Type | Electricity Price (per kWh) | Gas Price (per kWh) | Standing Charge (per day) |
|---|---|---|---|
| Fixed-rate tariff (1-year) | 18.5p | 6.2p | 28p (electricity) / 25p (gas) |
| Fixed-rate tariff (2-year) | 17.8p | 6.0p | 28p (electricity) / 25p (gas) |
| Fixed-rate tariff (3-year) | 17.2p | 5.8p | 28p (electricity) / 25p (gas) |
| Variable-rate tariff | 19.5p (average) | 6.8p (average) | 28p (electricity) / 25p (gas) |
| Half-hourly metered tariff | Varies based on usage | N/A | Negotiable based on business size and needs |
These prices are indicative and subject to change based on market conditions and specific contract terms. For the most accurate and up-to-date information, it’s best to contact OVO Energy directly for a tailored quote that matches your business requirements.
OVO Energy business tariffs explained
OVO Energy offers a range of business tariffs for both gas and electricity. These tariffs are designed to be flexible, providing SMEs with options that can help manage energy costs efficiently. The main types of tariffs include:
Fixed-rate tariffs
Fixed-rate tariffs lock in the energy price per unit for a set period, typically 1 to 3 years. This means your business can avoid sudden price increases in the wholesale energy market, making budgeting more straightforward. The key benefits of OVO’s fixed-rate tariffs include:
- Price stability: Protects your business from market fluctuations.
- Predictable budgeting: Helps manage energy expenses more effectively.
- Long-term planning: Suitable for businesses that prefer stable costs over time.
Variable-rate tariffs
Variable-rate tariffs from OVO Energy allow the price per unit of energy to fluctuate based on market conditions. While these tariffs can offer lower prices when market rates drop, they also come with the risk of higher costs during periods of increased demand or price volatility. Key aspects of variable-rate tariffs include:
- Flexible pricing: Rates change in line with the market, which could be beneficial if prices fall.
- Risk of increased costs: Prices can rise unexpectedly, impacting your budget.
- Short-term focus: Best for businesses that can adapt quickly to changing costs.
Half-hourly metered tariffs
For larger businesses with significant energy consumption, OVO Energy offers half-hourly metered tariffs. These tariffs are tailored to enterprises that require detailed monitoring of their energy use. The benefits include:
- Accurate billing: Charges are based on actual usage recorded every half-hour.
- Detailed data: Insights into energy consumption patterns can help optimise efficiency.
- Suitable for high-use businesses: Ideal for organisations with complex energy needs.
Features of OVO Energy business tariffs
OVO Energy aims to differentiate its business energy offering with a variety of features that go beyond just competitive pricing. Some of the standout features include:
1. 100% renewable electricity
OVO Energy provides 100% renewable electricity as standard for all its business customers. This commitment to green energy can help businesses reduce their carbon footprint and align with sustainability goals, a significant consideration for many modern enterprises.
2. Carbon reduction initiatives
OVO Energy supports businesses in their journey towards net-zero carbon emissions through several initiatives. Their focus on carbon offsetting and investment in sustainable projects makes them a strong partner for companies prioritising environmental responsibility.
3. Smart meters
Smart meters are available to business customers to help track and manage energy usage more effectively. These meters provide real-time data, which can be invaluable for businesses looking to identify opportunities for energy savings.
4. Customer support and account management
OVO Energy offers dedicated account management for its larger business clients. This personalised service can make a significant difference in handling billing queries, contract renewals, and other account-related issues promptly and efficiently.
How competitive are OVO Energy business prices?
OVO Energy pricing for business customers tends to be competitive, especially in the fixed-rate tariff category. However, the exact cost of gas and electricity depends on factors such as the size of the business, location, and energy consumption levels. For SMEs, fixed-rate tariffs can often provide some of the best value, offering certainty in a fluctuating market.
To get a precise quote, businesses will need to provide OVO Energy with details about their current energy use and requirements. This allows for a tailored price plan that can better meet the unique needs of each business.
Pros and cons of choosing OVO Energy for business
Here’s a quick rundown of the pros and cons to help you decide if OVO Energy is the right choice for your business energy needs.
Pros
- 100% renewable electricity as standard: Ideal for businesses committed to sustainability.
- Fixed-rate tariffs available: Protects against market volatility.
- Smart meters: Better energy management and data-driven decision-making.
- Dedicated account management: Tailored support for larger businesses.
Cons
- Limited tariff options: Compared to some competitors, the range of business tariffs is narrower.
- Potentially higher prices for variable tariffs: Risk of increased costs if market prices rise.
- Not suitable for micro-businesses: Smaller businesses might find more competitive deals elsewhere.
How to switch your business energy to OVO Energy
Switching your business energy supplier to OVO Energy is a straightforward process. Once you’ve received a tailored quote and chosen a tariff, OVO handles the transfer, including notifying your current supplier. There is usually no interruption to your energy supply, making the transition seamless.
Is OVO Energy right for your business?
Choosing an energy supplier is a critical decision that impacts both your bottom line and your sustainability efforts. OVO Energy stands out for its commitment to renewable energy and competitive fixed-rate tariffs, making it a solid choice for environmentally conscious businesses and those seeking price stability.
However, if your business prefers a broader range of tariff options or you are a micro-business seeking the lowest possible rates, it might be worth exploring other energy suppliers. Evaluating your energy consumption needs and sustainability goals will help determine if OVO Energy aligns with your business objectives.
Conclusion – OVO Energy business prices review
OVO Energy offers a reliable and green energy solution for UK businesses with its fixed-rate tariffs, renewable electricity, and smart management tools. While their focus on sustainability and customer support is commendable, it’s essential to compare quotes and assess your business needs to ensure you get the best deal. By understanding OVO Energy’s offerings, you can make an informed choice that benefits both your business and the environment.
For more, visit the OVO website, and see our guides to cheap business electricity and cheap business gas.
FAQ – OVO Energy business prices
OVO offers discounts of up to 5% on your unit rate for businesses that commit to fixed-rate contracts of three years or more. This reduction is applied directly to your bill, helping to lower your overall energy costs while providing long-term price stability.
Yes, OVO charges exit fees that range from £30 to £100 per fuel, depending on the length of your contract. The exact fee is calculated based on the remaining months of the agreement, with longer remaining durations incurring higher charges.
OVO calculates business energy consumption rates using a unit price per kWh, typically around 18.5p for electricity and 6.2p for gas on a fixed-rate tariff. This calculation includes your standing charge, which averages 28p per day for electricity and 25p for gas.
OVO accepts payment via Direct Debit, bank transfer, and debit or credit card for business accounts. Businesses that set up Direct Debit payments can benefit from a 2% discount on their energy bills, helping to reduce monthly costs while ensuring timely payment.
Yes, OVO offers bespoke pricing for businesses consuming over 100,000 kWh per year. These rates are typically lower than standard tariffs, with discounts up to 10% on the unit rate depending on the size and location of your business, as well as energy usage patterns.
OVO provides a £50 credit per business account for those signing up to a 100% renewable energy plan. This incentive encourages businesses to switch to green energy and supports OVO’s commitment to sustainability while providing immediate savings on your energy bill.
OVO’s standing charge averages 28p per day for electricity and 25p for gas, which is competitive within the industry. Many other suppliers charge between 30p and 35p per day, so OVO’s rates can offer a slight cost advantage to businesses looking to reduce overheads.