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Energy newcomer launches two ‘competitive’ tariffs

New energy company Ovo enters market

Ovo Energy logo

Ovo Energy

New energy company Ovo Energy is taking on the big energy suppliers with two competitive energy tariffs, including one it claims is ‘the greenest standard dual fuel tariff’ in the market.

Ovo says it’s able to offer ‘great value’ plans by passing on the savings it makes by using more efficient technology directly to its customers.

The gas and electricity prices you pay with the Ovo new energy and green energy plans are fixed for 12 months, after which time you can choose to fix prices again or move on to a variable rate.

Ovo says if it doesn’t hear from a customer after a 12 month fixed term comes to an end, they will ‘automatically be moved to the cheapest available variable rate Ovo offers at that time.’

Which? Switch

Which? Switch can help take the hassle out of changing energy supplier. Compare prices and tariffs – including Ovo Energy’s new tariffs – in a few minutes to find the best deal for you. Those switching with Which? Switch between August and December 2008 saved an annual average of £257.

We’ve also got practical tips on how to cut your energy costs and how to create a more eco-friendly home.

Ovo dual fuel energy tariffs

Ovo new energy plan

This tariff fixes the price you pay for gas and electricity for 12 months. Customers pay by monthly direct debit and receive paperless billing via email. Ovo also claims that 15% of the electricity is from renewable sources.

Up until last week, when First:Utility’s iSave tariff was launched, the new energy plan was the cheapest dual fuel tariff on the market.

Ovo green energy plan

The green energy plan works in the same way as the new energy plan, but claims to provide 100% green electricity. It’s more expensive, but Ovo says ‘it’s still better value than a lot of other standard tariffs.’

Energy prices

With smaller energy companies like Ovo Energy and First:utility offering good value options for customers, the spotlight is on how the ‘big six’ energy companies – British Gas, Eon, Npower, Scottish & Southern Energy, Scottish Power and EDF Energy – will respond. 

According to Alison Morrison of Which? Switch, Which?’s energy comparison and switching service: ‘It is good to see a new supplier enter the energy market, particularly when they are so competitive on price. We hope this encourages other energy companies to review their prices.

‘In the meantime, customers should also be reviewing how much they currently pay for their gas and electricity, particularly as we are about to enter the cold winter months.’

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