One of the UK’s smaller energy suppliers, Ovo Energy, has today announced a price cut of 2.5% for its customers, claiming that the relatively mild winter weather has allowed it to take advantage of lower wholesale gas and electricity prices.
Ovo Energy claims its latest price cut mean its customers’ bills are now roughly £180 a year cheaper than the average of the ‘big six’ energy suppliers. The big six suppliers are British Gas, EDF Energy, Eon, Npower, Scottish Power and SSE. This price cut announcement coincides with the Which? campaign to fix the energy market.
This is the small energy supplier’s fourth price cut since September 2013. Ovo also announced a new tariff for consumers using pre-payment meters, who have been unable to switch to the supplier until now.
If you want to save money on your energy bills, head to Which? Switch to compare gas and electricity prices to find the very best deal for your home.
Ovo call to ‘dump the big six’
To coincide with Valentine’s Day, Ovo is calling on consumers to ‘dump the big six’. The supplier claims to be smarter than its larger rivals when it comes to buying energy. Ovo Energy’s chief executive Stephen Fitzpatrick said:
‘We do a lot of small things better and it all adds up. We are smarter about the way we buy energy. For example, we’ve been buying a lot of energy in the last couple of weeks as prices have fallen. We didn’t lock in at very high prices and our customers are benefiting from that.’
Which? campaign to fix the energy market
Ovo’s price cut announcement comes on the same day we launch our ‘Fix the Big Six’ campaign, calling for an energy industry that works for consumers as well as shareholders.
We are calling on the government, the energy regulator Ofgem, competition authorities and energy suppliers to drive forward radical reforms with our six fixes for the broken energy market.