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17 March 2015: Pricing Statement(1)

OVO is today announcing a drop in the price of its OVO Pay As You Go (PAYG) energy tariff – by 3.3% for dual fuel (6% drop for gas) to reflect falling wholesale costs and improved operational efficiency, resulting in an average saving of £41 per year.  Following the price drop, due in April, OVO’s PAYG price for a dual fuel customer on its PAYG energy tariff will now be £1,168 (down from £1,209).

The move will benefit current customers on PAYG Variable (around 80% of OVO’s prepayment customers), as well as new customers coming onto the tariff. This will be OVO’s third price drop in 18 months, for PAYG.

OVO reviews its prices on a regular basis and this price change reflects movement in the cost of supplying energy to its customers over time, and improved operational efficiencies. This cost reflective pricing sits at the heart of the company’s promise to customers that the deal they are getting from OVO will always be fair, transparent and as competitive as possible.