Energy suppliers Ovo cut prices by 7% - 29/03/2010
Energy suppliers Ovo have cut their dual fuel tariff by seven per cent, thereby becoming the cheapest gas and electricity provider in Britain.
The fledgling company's New Energy tariff is now £855 a year, which is around 23 per cent cheaper than the average price of a standard tariff from one of the big six energy suppliers E.ON, EDF Energy, British Gas, npower, ScottishPower and Scottish & Southern Energy
Online dual fuel deals paid by direct debit are the cheapest available to consumers - the average household can save up to £300 a year by moving online.
Alison Morrison of Which? commented: "Ovo's price cut is great news for consumers and the extra competition will hopefully put pressure on the big six to consider further price cuts."
She added that while Ovo may now offer the cheapest average bills, there are still a number of factors that affect energy prices, such as neighbourhood and actual energy consumption.
Scottish Power became the last of the big six energy suppliers to cut prices after reducing its gas prices by eight per cent earlier this month.
If you want to find out more about gas and electricity and how you could save up to £378 in minutes, click here.
Save up to £300 on your gas & electricity bills at energyhelpline.com
Compare prices from all energy suppliers to find your best deal