OVO Energy lowers its two fixed-rate tariffs
By OVO Energy Friday 29 June 2012
Leading independent energy company OVO Energy today announced that it has reduced its dual fuel fixed tariff prices by 4.5%*, for new customers and existing OVO customers that are due to renew with the supplier.
The reduction, effective from 29 June 2012, means an average UK household will now pay £1,088.09* per year on OVO’s New Energy dual fuel tariff, against an average of £1,162* for comparable tariffs with the “Big Six” providers.
Stephen Fitzpatrick, OVO Energy’s Managing Director said:
“We’ve become well-known for passing on any savings from buying energy on the wholesale market to our customers as quickly as we can and we’re pleased to be doing so today. Our New Energy tariff continues to be cheaper than the average of those offered by the “Big Six” energy suppliers. We only offer two, simple fixed tariffs which provide peace of mind – the price consumers see today will be the price they pay for the next 12 months.”
Today’s announcement does not affect existing customers already in a fixed contract and OVO’s variable rate prices. Customers already on a variable rate will be able to fix immediately at the lower price.
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Notes to editors:
* Figures are based on a medium user in a typical household using 16,500 kWh of gas and 3,300 kWh of electricity, representing a reduction of £51.76 and 4.5% per year on OVO’s New Energy fixed tariff current price and a reduction of £54.88 and 4.6% per year on the Green Energy fixed tariff current price. http://www.ofgem.gov.uk/Media/FactSheets/Documents1/domestic%20energy%20consump%20fig%20FS.pdf.
A fixed tariff guarantees the price customers pay per unit of energy for a specified period of time. Signing up to a variable rate means the price customers pay per unit may fluctuate.