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COUNTING THE COST

OVO Energy puts up energy bills by 5% for thousands of customers

The energy supplier has announced an increase for those on its dual fuel standard tariff

THOUSANDS of OVO Energy customers face an increase in their bills after the energy supplier announced a 5 per cent price hike for those on its dual fuel standard tariff.

The price changes will come into effect on 10 January 2017, and will see prices go up for 122,000 customers on the Pay Monthly Simpler variable tariff.
The average annual bill will increase by £50 as a result of the price hike
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The average annual bill will increase by £50 as a result of the price hikeCredit: PA:Press Association

According to OVO, the overall 5 per cent increase is the result of the unit price of electricity rising by 18 per cent, and the standing charges for gas and electricity falling by £10 a year.

For a typical usage dual fuel household, the supplier says this means the average annual bill will rise from £1,004 to £1,054.

The rise for those on its standard electricity-only tariff will be even more.

Meanwhile, Big Six energy customers could also see a rise of 10 per cent as firms are forced to pay up for the government's green energy schemes.

And recently, an investigation by The Sun also found that seven in ten Big Six customers are paying hundreds more than their supplier's best deals.

In a statement, OVO, which supplies 680,000 customers, said: "Since 10 June, the forward price of gas has increased by 30% and electricity by 23%. Ovo reviews its prices on a regular basis and has a strong track record of cost-reflective pricing and passing back savings to customers whenever possible."
122,000 customers will be affected by the change in price
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122,000 customers will be affected by the change in priceCredit: Getty Images

Meanwhile Guy Anker, managing editor, added: “This is a clarion call to urgently lock in to a cheap fix now, with urgent being the key word as we’re in a rising market and top deals are disappearing fast.

"Ovo’s raising standard prices and more will likely follow, while cheap new customer deals are soaring in cost – up £100 per year for a typical household in the last 6 months.”
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