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15 March 2012: Ovo announces price riseOvo, who in the past have been at the forefront of price drops, have today announced a price rise for both their dual fuel and electricity-only customers. The rises, which became effective today for new and renewing customers, will see fixed price dual fuel bills rise on average 7.7%, while fixed price electricity-only customers will see their bills jump 3%. The typical annual dual fuel cost for an Ovo customer on a fixed price tariff after the price increase will be £1,140.
Existing Ovo customers on variable rate tariffs will see their bills rise by 6.2% from May 3, making the average dual fuel household bill on a variable rate Ovo tariff £1,190. Rising wholesale prices have been cited by the supplier as the reason behind the increase.
Ovo customers on fixed deals will continue to stay on their fixed price, and won’t see an increase to their bills. However, customers should check their contract to ensure that they aren’t near their renewal date, as the default renewal option is onto the variable rate which has increased.
Price rises are an ideal reminder of the importance of comparing your energy suppliers regularly. Comparing suppliers and tariffs can ensure that you are always receiving the best deal for your energy needs, and you could save hundreds of pounds from your bills.
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