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Energy firm cancels price increase - 28/11/2011

People performing an energy comparison in order to find cheap electricity deals may be pleased to hear one supplier has cancelled plans to increase its prices.

Independent provider Ovo explained the decision to scrap an increase for customers on variable rate deals is due to a fall in wholesale energy costs.

Managing director of the firm Stephen Fitzpatrick said it is part of the company's efforts to ensure its customers are always able to get the best deals possible.

He added he was "delighted" to announce energy users with the company will now not see their bills increase in January.

The move was also welcomed by Consumer Focus, with the group's director of energy Audrey Gallacher stating all energy suppliers should be looking at Ovo's lead due to cheaper wholesale costs.

She said: "This is a good sign and it throws down a gauntlet to the Big Six."

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