Ovo implement price cuts while First Utility reveal price rises

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

Energy supplier Ovo has announced a price cut for both new customers, as well as for its customers choosing to renew their existing dual fuel deals, according to an article published by Aol.

A cut of 4.5 per cent, it will see the average household pay around £1,088 annually for a New Energy dual fuel tariff - in comparison to the £1,140 previously paid each year.

Following the cuts Ovo's standard fixed energy tariff is now the fifth cheapest available on the market - sat in behind EDF Energy, Scottish Power, Sainsbury's and Npower according to Utility Week. Ovo's decision to implement a price cut has left many speculating over whether the big six energy companies will follow suit.

Meanwhile, First Utility has increased the price of its variable deal by £101,  increasing to £1,128 each year; in light of the increase First Utility's deal is now the eighth best deal available on the market.

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