OVO Energy announce energy price cuts, making it the cheapest
supplier in the UK
Ovo Energy, the UK’s fastest growing energy company has cut its standard New Energy
tariff by 7% making it the cheapest in the UK. The average family in the UK can expect to
save around £355 by switching to Ovo’s New Energy Fixed Tariff, paying just £855 per year
[1]. This cut reflects the recent fall in wholesale gas and electricity prices and Ovo’s
commitment to react quickly to market movements.
Recent price cuts by the other suppliers have been welcomed by consumer groups. Ovo’s
price cut means that its New Energy plan is now 23% cheaper than the average Big Six
standard direct debit tariffs [2].
The philosophy of Ovo Energy has always been to put the customer first. Ovo Energy
continues to provide customers with easy to understand pricing and billing. To respond to
customer requests, Ovo now offers:
-
Quarterly paper billing option in addition to the current monthly online billing option
(additional £5 quarterly charge).
-
Both fixed and variable tariff options for the New Energy plan and 100% Green
Energy plan.
As always, all Ovo’s tariff options are available both online and through its free customer
service hotline.
Ovo Energy’s Founder and Managing Director, Stephen Fitzpatrick said “It’s a simple
formula. We want to deliver cheaper, greener and simpler energy to our customers. When
wholesale gas and electricity prices come down, customers can expect our prices to come
down. Of course, energy costs can rise as well as fall but customers who sign up to Ovo’s
fixed tariffs know that their low prices are guaranteed for at least 12 months.”
Visit ovoenergy.com or call the free hotline at 0800 5999 440 for more information on
switching.
-ENDS For media enquiries please contact Verity Blake, Emma Broomhall or Su Allen on
01865 882 988 or
[email protected]/[email protected]/[email protected]
Figure: [2] Price comparison – Ovo energy prices are already currently cheaper than any
from the Big Six Energy suppliers. [Source: Consumer Focus Website 24 March 2010]
Note to Editors
Launched in September 2009, energy tariffs from Ovo Energy are consistently cheaper than
those from the Big Six (British Gas, E. ON, EDF, Scottish Power, NPower, Scottish &
Southern Energy), with the current price cuts placing Ovo Energy 3% lower than its nearest
competitor.
Ovo strives for simplification in the energy market, and consequently provides energy in two
simple and straightforward ways that are available in a fixed price plan or variable tariff:
The Ovo Green Energy Plan (100% renewable energy)
The Ovo New Energy Plan (15% renewable energy)
Coupled to this is simple and transparent billing, so that customers can review their bills
against their meter readings and easily calculate what they should pay. Customers receive
their bills online monthly, but can now also opt to receive a quarterly paper bill.
Giving consumers access to green energy without paying a premium for it, is all part of
Ovo’s business promise and it is for this reason that its standard dual fuel tariff is one of the
greenest on the market – offering 15% of renewable energy, compared to the UK average of
5.5% .
Headquartered in The Ovo Barn in Cirencester, Gloucestershire, Ovo Energy is a fresh,
exciting entrant to the energy market, challenging the Big Six energy suppliers by delivering
gas and electricity in a cheaper, greener and simpler way.
References
[1] Price comparison at http://www.energyhelpline.com/energy [Accessed 22 March 2010]
OVO:
Cheaper
Since its entry into the market in September 2009, Ovo Energy has consistently been
amongst the best value energy suppliers in the UK. By adding a paper based option at a
realistic cost, Ovo bucks the recent market trend to offer the best deals to online customers
only.
Greener
The Ovo New Energy plan uses three times more renewable energy (15%) at no extra
cost, against a UK average of just 5% [2]. The Green Energy tariff provides 100% of its
energy from renewable sources and is the cheapest 100% green energy tariff in the
market.
Simpler
Ovo has simple, straightforward tariffs with no misleading discounts or promotions. By
adding a paper based option to all its tariff’s, offline customers can now benefit from Ovo’s
clear and easy to understand bills at a small extra cost.
UK wholesale power and gas price movements.
Source: Spectron