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OVO Energy price change

By OVO Energy Friday 30 November 2012

Leading independent energy company OVO Energy confirms that there will be a nominal increase of £33 to its fixed rate energy tariff per year. The average price of this tariff is £1,171.86* and remains the cheapest fixed dual fuel tariff on the market at £162** less than the average.

“OVO’s prices remain the most competitive in the market but small increases in wholesale energy and network costs means we have to increase our price by a small amount. We have now started to review our prices every month so we can react and pass on reductions more quickly than other large energy companies.”

Stephen Fitzpatrick, Founder, OVO Energy

OVO has resisted passing on price increases but with wholesale costs, transportation costs and renewable obligations all going up again it’s unavoidable. By reviewing their costs monthly they expect to be more responsive in passing on any reductions when they occur and have reduced their costs twice already in 2012.

 

*Average duel fuel price in the UK is £1334 according to recent research by uSwitch

** Figures are of 30th November 2012 based on a medium user in a typical household using 16,500 kWh of gas and 3,300 kWh of electricity, representing an increase of £32.57 or 2.9% per year on OVO’s New Energy dual fuel fixed tariff current price and an increase of £35.64 or 3% per year on the Green Energy dual fuel fixed tariff current price.

 

http://www.ofgem.gov.uk/Media/FactSheets/Documents1/domestic%20energy%20consump%20fig%20FS.pdf

OVO keeps things simple for our customers by having two easy to understand tariffs. These are the New Energy Plan and the Green Energy Plan.

 

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