Launched in 2009, OVO Energy has grown to become one of the UK's largest independent energy suppliers. Through a combination of rapid organic growth, as well as some bold strategic acquisitions, it has joined the exclusive club that is the “New Big 6” energy suppliers that dominate the UK domestic energy market. But who is OVO Energy? What do they actually do and what do they stand for? Are their tariffs competitive? And what about their customer service ratings? In this article we’ll aim to answer those questions and more.
But first, let’s answer a simple question. How to contact OVO Energy if you have a customer services query or want to make a complaint. There are 3 ways in which you can do this.
This is probably the easiest way. Use the Chat with Us link on their online Help Centre.
Telephone Number: 0330 303 5063
Opening Hours: Monday to Friday (8am - 5pm)
Pay As You Go customers (those with a prepayment meter) get enhanced levels of phone based customer service.
Telephone Number: 0330 175 9669
Opening Hours: Monday to Friday (8am - 8pm), Saturday and Sunday: (9am - 5pm)
Send an email to: hello@ovoenergy.com
OVO aim to respond within 2 working days (weekends don't count as working days).
For complaints the email address is: complaints@ovoenergy.com
In addition to their standard variable rate tariff, Simpler Energy, OVO Energy typically offers fixed rate tariffs which are fixed for either 1 or 2 years from your supply start date.
All tariffs come with the option to upgrade to 100% renewable electricity, but this is not provided as standard. It comes for an annual premium of around £95 (as at Feb 2024).
Additionally, the 1 year fixed tariffs comes with an option to include boiler cover for an additional cost.
All non-standard tariffs carry an exit penalty which ranges from £75 to £95 per fuel.
The tariff list, and cost, of all current OVO Energy tariffs is shown in the Table below.
| Tariff Name | Electricity Unit Price | Electricity Standing Charge | Gas Unit Price | Gas Standing Charge |
|---|
For comparison purposes, energy prices shown above are based on the London region ONLY. Prices may vary depending on the region you live in. To see the best deals for where you are, run a comparison using our Ofgem approved energy switching tool.
OVO Energy was founded in 2009 by Stephen Fitzpatrick with the aim of making “energy cheaper, greener and simpler”. Through a combination of organic growth and increasingly ambitious strategic acquisitions, it has become the UK's fourth-largest domestic energy supplier, boasting approximately 4 million customers.
OVO Energy solidified its position in the energy market with the acquisition of SSE's retail energy business for £500 million in January 2020. This deal included taking over SSE's 3.5 million domestic household customers along with 8,000 staff. Before that, OVO Energy absorbed the customer bases of failed suppliers Spark Energy (290,000 customers in December 2018) and Economy Energy (235,000 customers in January 2019).
Today, OVO Group Limited, the parent company of OVO Energy, encompasses a diverse portfolio of 11 operating companies spanning energy supply, boiler and central heating services, insurance, and the development of intelligent energy platforms. Initially planning international expansion in France, Italy, Japan, the Netherlands, and Spain, OVO scaled back those ambitions in 2022, selling or dissolving all international subsidiaries except in Spain.
While OVO Energy once touted itself as a leader in the green energy movement, it has recently shifted away from its previous commitment to providing 50% renewable electricity as standard. The company no longer purchases renewable certificates to offset fossil fuel purchases, citing their limited positive impact on the environment. Instead, it is working on helping its customers achieve energy solutions that are “better for them, their wallets, and the planet” through the provision of smart tech and expert support aimed at reducing energy bills and carbon footprints. Critics would argue that this approach is ambiguous and relies heavily on customer participation for success.
Furthermore, it's not all been plain-sailing for OVO. In January 2020, it had to pay a £8.9 million fine to make up for communication and billing issues. In May 2023, it had to pay out a further £2 million in customer refunds and compensation, for Energy Price Guarantee overcharging. OVO Energy has also incurred fines for missing smart meter installation targets, including a £1.2 million penalty in August 2020 and a subsequent £2.39 million fine in November 2023.
Although OVO energy retains its fourth-place position in market share, the company has experienced a decline in market share since its peak in January 2020, raising questions about its continued success.
OVO Energy, despite its multi-billion pound turnover, remains a private company with a complex ownership structure. Founder Stephen Fitzpatrick still retains significant control of the ultimate parent company, Energy Transition Holdings Limited, owning 51% of the A shares and 45% overall. Other major investors including Mitsubishi Corporation and private equity group Mayfair Equity Partners.
After 9 years at the helm, Fitzpatrick stepped down as CEO in 2022, with Raman Bhatia, COO, taking over. Recent group restructuring and the appointment of Justin King CBE as chairman raise questions about potential future changes. Is OVO Energy heading for an IPO? And will it be in the UK or on the NASDAQ stock exchange?
Having made the transition from small independent to one of the country's biggest energy suppliers, OVO essentially offers the best of both worlds when it comes to energy supply - it combines the great rates and customer service of a smaller supplier with all of the assurances that come with switching to a bigger supplier.
If renewable energy is a priority, OVO was the first major energy company to remove coal and nuclear from its energy mix. It offers 100% renewable electricity on its green energy tariffs.
Any electricity that we use is generated from a combination of different primary fuels such as gas, nuclear, coal and renewable sources (wind, hydro and the sun). Energy suppliers buy the electricity that they sell to you from energy generators. Generators in turn produce that electricity from different primary fuel sources. The proportion of each primary fuel bought and sold by the energy supplier makes up that supplier’s fuel mix.
Here is OVO’s fuel mix for the period April 1, 2022 to March 31, 2023 compared to the GB average.
| Electricity supplied by OVO | Average for GB | |
|---|---|---|
| Coal | 0.0% | 3.4% |
| Natural Gas | 55.2% | 39.3% |
| Nuclear | 0.0% | 13.9% |
| Renewable | 44.8% | 40.8% |
| Other | 0.0% | 2.6% |
| Total | 100% | 100% |
| CO2 emissions (g/kWh) | 205 | 199 |
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