Energy News

OVO Energy: New cheapest energy deal

Thursday, 22 March 2010

By Daniel Barnes- daniel@consumerchoices.co.uk

Prices cuts from OVO Energy make it the cheapest on the market for energy bills.

Ovo Energy is now the cheapest energy supplier for dual fuel gas and electricity deals.

OVO Energy is cutting its standard tariff by 7%, making it the cheapest energy provider on the market in 13 out of 14 of the UK regions.

The average price on the New Energy Fixed Tariff is now £855, 3% lower than the nearest competitor and 23% cheaper than the ‘big 6’ energy firms.

OVO Energy now replaces First Utility as the cheapest energy provider.

OVO Energy managing director Stephen Fitzpatrick said: “It’s a simple formula. We want to deliver cheaper, greener and simpler energy to our customers.

“When wholesale gas and electricity prices come down, customers can expect our prices to come down.”

He added: “Of course, energy costs can rise as well as fall but customers who sign up to OVO’s fixed tariffs know that their low prices are guaranteed for at least 12 months.”

OVO offers two main energy plans; Green Energy Plan which provides 100% renewable energy, and the OVO New Energy Plan which has 15% renewable energy.

Customers can choose monthly online billing or quarterly paper billing with a £5 charge.

Cancellation fees on the fixed rate deal stand at £30 per fuel, so £60 for dual fuel gas and electricity customers.