Ovo Energy cuts dual-fuel prices by 5%

Monday, January 9th 2012
Dual-fuel price cut unveiled by Ovo
A five per cent price cut on dual-fuel bills has been announced by Ovo.

Ovo Energy has announced a five per cent price cut for households signed up to its dual-fuel packages.

The reduction makes Ovo the latest utilities firm to slash its gas and electricity rates, coming just a matter of weeks after Co-operative Energy unveiled plans for a three per cent price decrease.

This move means the average annual bill for an Ovo dual-fuel customer paying by direct debit has fallen from £1,115 to £1,061 - substantially lower than the typical price of £1,194 offered by the UK's Big Six energy providers.

Audrey Gallacher, director of energy at Consumer Focus, said the news will come as a welcome relief to householders, who have seen their energy bills rise by 14 per cent since last summer.

"Customers will be glad to see that Ovo has reflected falling wholesale costs," she added. "This is a market fundamental which must be reflected across the sector if wholesale costs continue to fall."

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