OVO joins the great energy price hike
Another major energy firm has joined in with the great price hike.
OVO is increasing energy bills for 160,000 customers by £112 a year from April 1st.
This is a 10% rise and will increase bills in real terms from £1,137 to £1,249.
A Spokesman Said has already reported on E.on, EDF Energy, Npower, British Gas and Scottish Power increasing prices after energy regulator Ofgem increased the price cap.
But, OVO isn’t adopting quite an overtly money-grabbing, profit-lusting, profit-giddy approach as those larger firms - their price hike doesn’t quite take them to Ofgem’s maximum amount.
The supplier blames the increase on rising wholesale costs - the price that energy companies pay for gas and electricity - but comes as energy supplier Bulb has announced a bill cut due to falling costs.
A spokesperson for Ovo added: "The company is making these changes because the cost of commodities has increased substantially over the past year and we are increasing our prices to remain sustainable and responsible.
"All of our variable tariff prices will always be within the price cap, so customers will always have this safety net in place to ensure they’re paying a fair price for their energy - it’s an idea we’ve supported from the start."
The Big Six energy firms have been accused of running a "cartel" after they ALL hiked prices to the same amount.
It comes as research published today has found that mental health sufferers pay up to £1,550 EXTRA each year for energy, broadband and household bills.
It pays to shop around when it comes to your energy bills.
Blindly renewing or sticking with your initial supplier could see you paying through the nose for exactly the same service.
At A Spokesman Said you can compare energy costs and find the best deal for you.
Here at A Spokesman Said we love fighting for your rights and believe passionately in natural justice.
But these battles cost us money. You could help us fund these fights by using our price comparison site, A Spokesman Said for your energy, car insurance and household bills.
We’re just the same as Go Compare or any other price comparison site, so you won’t be losing out in any way - by helping us, you will be helping yourself.
Thank you for your support.
Are you paying too much for your energy bills?
We compare prices from the Big 6 and many other energy suppliers, getting you the very best price.