Ovo Energy customer? You need to read this right now!
Ovo Energy’s prices are up over 5% from today.
They’re the latest energy company to raise prices and blame higher wholesale costs.
The company doesn’t count as one of the Big Six energy giants, but still has over 800,000 customers.
The rises will affect just under 200,000 households, so around 25%.
Basically, it’s going to hit anyone on a standard variable tariff.
The hike of 5.1%, will add £53 a year to an average householder’s bill where there’s a supply of both gas and electricity.
That means anyone affected will be paying £1,090 a year, instead of £1,037, if they are an average consumer AND manage their account online, and so qualify for a discount – £60 for dual fuel and £30 for electricity only.
If you manage your account on the phone, you’ll find prices going up by a little less – 4.8%.
All the Big Six energy companies have raised their prices in the last few months.
The key thing, though, is to remember that these price rises only affect you if you’re paying a standard variable tariff.
And, as we’ve pointed out a million times, paying one of these is crazy if you can avoid it.
If you’re on a standard variable – which Ovo call ‘Simpler Energy’ – then now is the time to do something about it.
There are far, far cheaper deals on the market, and you should switch to one that’s right for you. Customers who switch typically save hundreds of pounds a year on their bill.
If you’re on Simpler Energy, then there will be no exit fee for leaving.
So, what are you waiting for?
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