Energy suppliers Ovo have announced an increase in the price of the Ovo New Energy fixed online tariff.
The provider, which launched last year as the cheapest utilities company, revealed that it will increase energy prices by over eight per cent, or £72.
This means that New Energy fixed tariff customers will now have to pay £926 a year for the security of fixed energy rates.
Ovo has also removed its variable tariff, although any customers who have already signed up to the price plan will not be affected by the change.
The price hike means that Ovo is no longer the cheapest energy supplier on the market, as it lags behind npower's Sign Online 18 tariff, which is currently the best online deal offering customers a capped rate against standard prices until June 30th 2011.
E.ON's Fix Online 8 tariff also offers consumers competitive energy deals, with prices fixed until July 1st 2011.
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