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Ovo Energy raises electricity, but lowers gas prices

Electricity prices up 5.49%, but gas costs down 3%

Ovo Energy logo

Ovo Energy: electricity prices up, gas prices down

Ovo Energy, one of the smaller energy companies, has offset an increase in its electricity costs with a surprise reduction in gas prices.

The price changes are now in effect for both its energy tariffs – Ovo ‘New Energy’ and Ovo ‘Green Energy’ – and equate to only marginal price differences for dual fuel customers.

Ovo New Energy customers will continue to pay an average of £1,050 a year, while Green Energy customers will pay around £1,102, an extra £2.

The move bucks the trend of the larger energy companies, four of which have announced blanket price increases of between 10% and 19% for gas and electricity. Which? research shows that rising energy prices are consumers’ number one financial concern.

Ovo Energy

Ovo Energy is a relative newcomer to the market, launching in September 2009 and promising simple and easy-to-understand energy tariffs. It topped our latest customer satisfaction survey of energy companies with a score of 77%, sharing the top spot with Utility Warehouse – and trouncing all of the bigger companies.

Another small energy firm, Good Energy, announced a 9% increase in gas prices earlier this month – but pledged to keep electricity costs the same until 2012.

‘Big six’ energy price rises

Energy price hike season for the ‘big six’ companies, meanwhile, is in full swing – with four raising gas and electricity rates over the past few weeks:

  • Scottish Power was the first to announce price rises of 19% for gas and 10% for electricity. 
  • On 8 July British Gas announced an 18% increase in gas and a 16% increase in electricity.
  • Scottish and Southern followed suit with rises of 18% for gas and 11% for electricity.
  • Eon was the fourth of the big six to raise prices – gas prices up by 18.1%, electricity by 11.4%.

Check your energy options, and see if you can find a better deal, with Which? Switch, the independent, not-for-profit energy comparison service from Which?. See our energy price rise Q&A for more guidance.

Lower your gas and electricity bills

You can compare energy prices and switch to a new gas and electricity supplier on Which? Switch. People who switched with us between 1 October and 31 December 2013 are predicted to save an average of £234 a year on their bills.

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