10 June 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 7.6% increase to the supplier’s Better Energy pay monthly tariff, resulting in an average headline increase of £63 per year. Following the price change, which goes live on 10th June, OVO’s headline price for a dual fuel customer on its Better Energy tariff will be £886 (up from £823).
Following this move, an OVO customer will on average save over £200 compared to the average Big Six Standard Variable Tariff1.
Since OVO’s last price change (15th January) they’ve seen increases of 23% in the price of gas and an increase of 16% for electricity. 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 10th June 2016.
Notes: The “Big Six” are E.ON, SSE, British Gas, Scottish Power, Npower and EDF.
1Between 25/11/2015 and 14/02/16, the average quoted savings made by new pay monthly signups was £261.05 annually based on the average consumption in their area.
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