23 August 2016: Following a steady increase in the wholesale commodity costs for both gas and electricity, OVO Energy is today announcing a price increase to its Pay Monthly fixed tariff.
The move sees a 3.6% increase to the supplier’s Better Energy pay monthly tariff, resulting in an average headline increase of £31 per year. Following the price change, which goes live on 23rd August 2016, OVO’s headline price for a dual fuel customer on its Better Energy tariff will be £917 (up from £886).
Following this move, an OVO customer will on average save over £200 when switching to OVO¹.
Since 10th June 2016, the forward price of gas has increased by 8% and electricity by 8%. OVO reviews its prices on a regular basis and has a strong track record of cost-reflective pricing and passing back savings to customers whenever possible. These principles sit 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.
The price changes take effect at 00.01 on 23rd August 2016.