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Ovo Energy freezes prices for customers

Ovo will not increase its prices this year.

Ovo has announced a price freeze for its customers this year – but what about the rest of the suppliers? 

Stephen Fitzpatrick from Ovo Energy announced on Radio 5 today that the energy supplier would not be raising its prices this year, just weeks before SSE customers brace themselves for a 9% price rise on gas and 9% on electricity.

The news will inevitably lead to further speculation about whether energy suppliers will be putting their prices up this winter.

What is going to happen to energy prices this winter?

The truth is, nobody knows whether or when energy suppliers will change their prices except the suppliers themselves. Because of the complex way energy is bought and sold, it isn’t as simple as tracking the price of wholesale gas for instance.

Already six fixed priced plans have ended, and some of the most competitive deals being pulled from the market, so the chances of grabbing a good energy deal may already be slipping away.

Are there any good deals left? 

Here’s a list of our best available deals for the average dual-fuel user, with the average annual cost:

Supplier

Plan Name

Price

First Utility

iSave V12

£1,054

Sainsbury’s Energy

Online Variable September 2013

£1,068

npower

 

Energy Online October 2013

£1,071

First Utility

iSave Fixed V4 March 2014

£1,087

Ovo Energy

New Energy Fixed*

£1,088

E.ON

SaveOnline 12

£1,113

So, what do I do if my supplier raises its prices?

In the event that your energy supplier does raise its prices, here are three steps you can take:

1) Don’t panic – you will have 30 days from the day you are notified of a price rise to when your prices actually go up.

2) Compare your prices. By comparing your energy prices you can see exactly which deal and supplier is the cheapest based on your actual usage and where you live. The sooner you switch to the cheapest deal, the more you’ll save.

3) Cut your energy! The best way to reduce your energy costs is by using less. Read our energy-saving guides to find out more information.

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