Ovo Energy to cut gas prices by 10.4%
Smaller supplier goes further than the Big Six with its gas price cut.
Ovo Energy has announced that it is to cut gas prices by 10.4%.
It's by far the largest price reduction when compared to the Big Six suppliers, whose cuts range from 1.3% to 5.1%.
The new price will be effective from 1st March, and OVO says it will save households an average of £65 a year.
Recent cuts from major suppliers follow falling wholesale gas prices and pressure from politicians.
The cheapest energy deals
All of the price cuts suppliers have announced only apply to standard tariffs, which offer dreadful value anyway. If you really want to cut the cost of your energy spending, the tariffs below are the cheapest around.
|
Energy supplier |
Tariff name |
Average UK price |
|
£913 |
||
|
£919 |
||
|
£919 |
||
|
£919.49 |
||
|
£919.57 |
||
|
£920 |
||
|
£929.57 |
||
|
£930 |
||
|
£931.60 |
||
|
£944 |
Source: lovemoney gas and electricity comparison centre
Prices based on average consumption as measured by Ofgem of 13,500kWh of gas and 3,200 kWh of electricity and a customer paying by monthly direct debit including VAT.
*Not available in region 17 - Scottish Hydro area
More on gas and electricity:
EDF announces gas price cut of 1.3%
SSE to cut gas prices by 4.1%, but not until April
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