New gas and electricity tariff tops tables
23 October 2009 09:20:25
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| The gas and electricity price war has taken a new turn. |
Market competition in the gas and electricity sector continues to heat up, with the launch of a table-topping tariff from Ovo Energy.
The firm has reduced the cost of its New Energy Plan, meaning that dual fuel customers now have the chance to pay an average of £921 per year.
This follows the release of several fuel tariff discounts over recent weeks, with suppliers aiming to attract new customers before winter.
Earlier in October, E.ON reduced its FixOnline 3 deal to £962 a year.
This was followed by First Utility's decision to cut its iSave tariff to an annual average of £954.
Stephen Fitzpatrick, co-founder of Ovo Energy, said: "Our latest price cut emphasises Ovo's commitment to providing great value gas and electricity.
"With many people having already turned their heating on for the winter, and with many more expected to do so over the coming weeks, we believe that this price cut could not have come at a better time for customers."
Ovo Energy's new tariff is the cheapest available in 13 out of 14 UK regions.
However, the firm said that customers who want to cancel the deal in future will have to pay a fee of £30.
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