Leading independent energy company OVO Energy confirms that there will be an increase of £68 to its fixed rate energy tariff per year – representing a 5.8% increase. Our Fixed New Energy plan now costs on average £1240 per year, which remains £104 less* than the average UK bill. We are also increasing the cost of our variable rate which has remained unchanged for over a year.
“This winter has been bitterly cold and exceptionally long, which is why we have held off this increase until we’ve seen signs that the weather is warming up. Wholesale energy costs have been rising since the end of 2012 and the long winter has exacerbated things further; but we have held firm and absorbed these increases. Our rise is much lower than any of the Big Six suppliers and our fixed price tariff remains lower than the industry average. Stephen Fitzpatrick, Founder, OVO Energy
Wholesale costs have gone up by 7.2% for gas and 6.2% for electricity*** since our last review in November, with transportation costs also increasing. Our new variable tariff will now be £1266 having remained static for more than 12 months.
Please note that if you are in contract with us, these price changes will not affect you. Your contract is fixed at the price you signed up with until it ends.
*Average duel fuel price in the UK is £1344 according to recent research by uSwitch