Independent energy company Ovo Energy has today announced that it’s increasing its fixed-rate tariffs by 4.7%, meaning it no longer has the cheapest fixed rate for everyone.
This rise will only effect new and renewing customers and will now cost an average of £1,139 a year, according to Ovo Energy. Depending on region and energy usage, this deal may still be the cheapest for some, but Scottish Power and EDF also have similar fixed-rate prices which are longer term.
Ensure you’re on the best energy tariff by using our independent comparison site, Which? Switch, where the average saving when switching gas and electricity is £217. You can also call our phone line to switch, or for any advice, on 01992 822 867, or visit our FAQ section.
Gas and electricity price rises
Over the last few weeks there have been a number of energy price increase announcements, including ones from British Gas, Scottish Power and Npower, while SSE has implemented its cost increase announced in the summer.
In reaction, Prime Minster David Cameron has promised consumers that energy companies would be forced to offer the lowest tariff to their customers – a promise Which? wants him to keep, along with initiating an independent review of the energy market.
Cheapest energy deal
With the average energy bill already rising 13% since last year, consumers tell us that energy prices are one of their top financial concerns.
Although many are keen to switch energy supplier, energy bills are confusing, so Ofgem is finally setting out plans for ways to simplify the energy market.