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OVO Energy announces energy price cuts

By OVO Energy Thursday 25 March 2010

OVO Energy, the UK’s fastest growing energy company has cut its standard New Energy tariff by 7% making it the cheapest in the UK. The average family in the UK can expect to save around £355 by switching to OVO’s New Energy Fixed Tariff, paying just £855 per year [1]. This cut reflects the recent fall in wholesale gas and electricity prices and OVO’s commitment to react quickly to market movements.

Recent price cuts by the other suppliers have been welcomed by consumer groups. OVO’s price cut means that its New Energy plan is now 23% cheaper than the average Big Six standard direct debit tariffs [2].

The philosophy of OVO Energy has always been to put the customer first. OVO Energy continues to provide customers with easy to understand pricing and billing. To respond to customer requests, OVO now offers:

  • Quarterly paper billing option in addition to the current monthly online billing option (additional £5 quarterly charge).
  • Both fixed and variable tariff options for the New Energy plan and 100% Green Energy plan.

As always, all OVO’s tariff options are available both online and through its free customer service hotline.

OVO Energy’s Founder and Managing Director, Stephen Fitzpatrick said “It’s a simple formula. We want to deliver cheaper, greener and simpler energy to our customers. When wholesale gas and electricity prices come down, customers can expect our prices to come down. Of course, energy costs can rise as well as fall but customers who sign up to OVO’s fixed tariffs know that their low prices are guaranteed for at least 12 months.”

Visit ovoenergy.com or call the free hotline at 0800 5999 440 for more information on switching. 

 

Press

O​VO​ Energy Ltd, registered office 1 Rivergate Temple Quay Bristol, BS1 6ED, company no. 06890795 registered in England and Wales, VAT No. 100119879

Additional terms and conditions
Please see below for full terms and conditions on 33% renewable electricity, 3-5% interest rewards, exit fees and saving claims.

 

1Monthly cost - Representative monthly direct debit costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying in advance by direct debit, including online discount.  All rates correct as of 20/3/2018, but may go up or down.

2Weekly cost - Representative weekly costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas).  All rates correct as of 22/11/2017, but may go up or down.

3Pay Monthly Savings claims: Saving based on the estimated annual cost of Simpler tariff for a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying monthly in advance by direct debit, including online discount. Comparisons made against the average of the Big 6 standard variable tariffs with equivalent features. All rates correct as of 20/3/2018.“The Big 6” are British Gas, Scottish Power, SSE, Npower, E.ON and EDF.

4Pay As You Go Savings are based on the average estimated annual costs for new PAYG OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location. 

We include almost twice as much renewable electricity as the national average: At least 33% of electricity in all of our tariffs comes from renewable sources. The national average, according to Ofgem as at March 2014 was 16.7%. For more information please visit this page.

33% of your electricity comes from renewable sources: 33% renewable electricity as standard as of 1st April 2015. Renewable electricity is generated from wind, solar, geothermal, wave, tidal, hydro, biomass, landfill gas, sewage treatment plant gas and biogas.

OVO Interest Rewards: Interest Rewards are paid on credit balances of customers paying by monthly Direct Debit. It is calculated at 3% in your first year, 4% in your second year and 5% in your third year (and every year thereafter) if you pay by Direct Debit. Interest Rewards are paid monthly based on the number of days you’re in credit and the amount left in your account after you’ve paid your bill. Full terms apply: https://www.ovoenergy.com/terms

95% of new customers save when switching to OVO: Savings based on the average estimated annual costs for all new OVO customers quoted through the OVO website, compared to their current supplier and tariff. Comparisons taken between 01/05/2016 and 11/10/16. Incl VAT.

94% of surveyed customers would recommend us: OVO conducted a survey of their customers in between 1st January 2016 and 15th April 2016. Out of 15,312 customers who responded, over 94% rated OVO 6+ when asked 'how likely would you be to recommend us to a friend and family, on a scale of 1 to 10.

uSwitch's Energy Supplier of the Year 2017: OVO energy was voted and awarded  'Energy Supplier of the year' and best for: Overall Customer Satisfaction, Most Likely to be Recommended, Value for Money, Best Deal for You, Customer Service, Billing Services, Energy Efficiency, Meter Services, Online Services, Green Services and Transfer Process. OVO Energy scored a 96% customer satisfaction score.

* EV - Everywhere, full terms and conditions: https://www.ovoenergy.com/ev-everywhere/terms

* OVO SolarStore (Beta), full terms and conditions: https://www.ovoenergy.com/ovo-solar-store/terms

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