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OVO Brand History

The energy supply market is getting competitive, with many customers now more keen than ever to find the best prices for their homes - and they’re looking beyond the ‘Big Six’ to get the best deals. This has created a gap in the market which many smaller suppliers are keen to fill. If you’re looking to make the switch to OVO then read our guide to see if this is the right energy supplier for you.

In 2017, the ‘Big Six’, made up of British Gas, EDF Energy, Npower, E.ON, Scottish Power and SSE, dominated the majority market share of the energy supply market accounting for 79% of electricity and 78% of gas supply, respectively. According to Ofgem, this number decreased from 84% for both products, reflecting the customer trend of shopping around for deals. More than a third of customers who switched suppliers did so to a challenger firm, away from the Big Six.

Launched in 2009, the Bristol-based OVO positioned itself as an alternative green energy supplier, offering cheaper prices and better business practices. The company now looks after around 690,000 customers (2% of the market share) and gets consistently good reviews on sites like Trustpilot. It sits amongst fifteen other small energy supply companies looking to shake up the market. In 2013, a number of energy companies were asked to justify their increasingly rising prices, and most claimed it was due to an increase in the international prices of gas. But OVO’s Managing Director Stephen Fitzpatrick countered the majority claims by stating that wholesale gas price has actually gotten cheaper, undermining assertions that customers must continue paying more. This established OVO as a market disrupter that's committed to quality of service and its customers, first and foremost.

OVO Brand Ethics

Ethics have played a big part in OVO’s business strategy from the outset. Their aim is to build an energy system for the future so that the country can one day run on renewable sources of energy. OVO’s approach involves imagining that the ‘customer is in the room’ when making decisions; this facilitates good business practice across the board and helps keep staff accountable.

The company also runs the OVO Foundation, with the help of customer donations – 100% of which go directly to the projects in development. It was created to help discover and fund innovative and creative solutions to the world’s pressing social issues. This includes things like tackling youth poverty, and access to energy and education, with many more projects currently in the works.

Project Jua

A project that helps schools and health facilities in the most remote parts of Kenya; powering life-saving equipment for the first time and providing schools with light so that children can study at night.

Future Builders

Taking an innovative approach to ending youth homelessness, this project gives young homeless people a chance to renovate homes they will live in, teaching them essential life skills in the process. Some initial research suggests that every £1 invested creates £11.10 of social value!

Inspiring children

Focusing on children from disadvantaged backgrounds, and their parents, this project aims to help children get ready for the start of school and settle in once they get there.

Local charity

Every year the OVO foundation provides local charities with a cash injection of about £100,000, helping with initiatives like food-growing, revamping city farms and play areas, plus many more.

OVO Energy Product Offerings

OVO offers a range of energy plans and products to help users find exactly what they’re looking for.

If you’re looking to switch your supplier then there are many home energy plans to choose from - including flexible options and OVO fixed deals. There’s the ‘Better Energy’ 12 month contract with fixed rates to protect you against price rises, a ‘2 Year Fixed Energy’ 24 month contract (the most popular option) and ‘Simpler Energy’ no contract flexible option, good if you’re moving home soon or simply not keen on contracts. You can also save money by going paperless and earn between 3% and 5% interest by staying in credit.

Whilst every energy plan is powered by 33% renewable electricity as standard, you’re able to upgrade to 100% renewable electricity with the OVO green deal ‘Green Energy’. An extra £5 a month will get you 100% renewable source electricity on any plan - you can upgrade and cancel anytime. This extra payment will also mean that 5 trees will be planted on your behalf, with over 400,000 being planted so far, helping fund technologies that aim to make energy greener and more sustainable.

You can also choose to add a Green Gas option to any plan, just like the electricity option mentioned above. This means that 50% of your gas supply would come from renewable sources, whilst OVO would aim to offset the other 50% by protecting some 500,000 hectares of threatened CO2-absorbing forests around the world.

OVO also offers a package for customers with electric cars with its EV Energy Everywhere bundle that includes free POLAR plus membership, 100% green energy and a 2 year fixed energy plan. Arriving in summer 2018 is the new Vehicle-to-Grid (V2G) charger that will credit you for any kWh exported, which could bring about enough savings to charge your car for free.

OVO energy remains one of Britain’s fastest growing energy suppliers as customers look for deals combined with greener sources of energy. If you’re environmentally conscious and looking to save on energy costs while helping the planet, then OVO could be the right supplier for you. Use Hoppy to see how OVO compares to other energy suppliers!

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