Energy company Ovo has teamed up with Tesco to offer new and existing customers £25 worth of Clubcard points, or £50 when used on days out and dining experiences. But how do Ovo’s rates stack up?
The green energy supplier and supermarket giant have joined forces for the Clubcard offer that runs until June 11, 2025.
The 2,500 points are worth £25 in store or the vouchers can be redeemed for double the value of rewards (reduced from 3x the value exchange last year) which can be spent at over 100 different rewards partners including Legoland, Virgin Atlantic, Prezzo and magazine subscriptions.
Here’s how you can get it…
Existing Ovo customers
You are eligible for the free 2,500 Clubcard points if you have a fixed or standard variable rate, have a smart meter and pay your Ovo bill by direct debit.
You’ll also need an online Tesco Clubcard account, but don’t worry if you’re not part of the loyalty program. You can sign up via the Tesco website and then follow the steps below once your Clubcard is active:
- Log in to your Ovo account
- Go to your profile and select ‘Our partners’
- Click on the Tesco Clubcard logo
- Link your Tesco Clubcard and Ovo accounts
- Activate the offer in your Clubcard account.
You will receive your points 60 days later.
Are you thinking about switching to Ovo?
If you are already with an existing energy supplier but are considering switching, check whether there are any exit penalties before ending your fixed tariff.
If you’re considering Ovo as your next supplier, please note that the Tesco offer does not apply to pay-as-you-go rates. You must have a smart meter installed and pay by direct debit.
You can view Ovo’s energy rates here, and to get the Tesco points, new customers will need to follow this Ovo link.
Once you’ve linked your Clubcard, points will be credited to your Tesco account within 60 days of the start date of your delivery.
How good are Ovo’s energy rates?
Elise Melville, energy expert at Uswitch.com, said: “It’s great to see energy suppliers finding new ways to help customers reduce their bills, including this £25 Tesco Clubcard incentive from Ovo Energy.”
Melville added: “Ovo’s 12-month fixed tariff currently costs £1,640 for an average household with normal usage, making it the third cheapest fixed tariff on the market with the £25 offer.
“It’s worth noting that a dual-fuel customer will be charged a £150 fine, so if you change your mind or want to switch to a different deal in the coming weeks or months, you’ll have to pay the fine . ”
Below, Uswitch has set out the top 10 cheapest energy rates:
Source: Uswitch.com. Prices are correct as of June 25, 2024 at 11am. The rates in the table are the cheapest non-bundlable fixed rates for 12 or 14 months – not variable or tracker. All energy rates and prices mentioned are subject to change without notice and vary by region. These are the cheapest rates available based on suppliers who have updated Uswitch with their rates.
*British Gas tariff is exclusive to Uswitch.com and Confused.com, and accessible directly through British Gas.
Mat Moakes, Chief Commercial Officer at Ovo, said: “We are always looking for new and innovative ways to reward our customers for joining us in our mission towards a greener future. That’s why we are happy that this offer is open to new customers. also.
“The cost of living remains a key challenge for households and our partnership with Tesco is one of the many ways we are giving back to our customers with rewards they can spend however they want. There couldn’t be a better time to join Ovo and benefit from this partnership.”
Lizzie Reynolds, Tesco Group membership and loyalty director, said: “Clubcard offers the best value at Tesco and we are always looking for new ways to bring even more benefits to the 22 million UK households that have a Clubcard.
“Thanks to our new partnership with Ovo, many Clubcard holders can now unlock an additional 2,500 Clubcard points, cash back on their purchases or double the value at more than 100 Clubcard rewards partners.”
Related: Average annual energy bills will fall by £122 from the summer