Ovo Energy promises to push dual fuel bills under the £1,000 threshold

A small UK energy supplier has vowed to push average energy bills under the £1,000 threshold this year, following a drop in the wholesale price of gas, a news report on the matter can reveal.

Ovo Energy challenged the Big Six energy suppliers, claiming that they are trying to lock customers into higher prices by freezing tariffs on longer periods of time.

The company also argued that a 9.5% drop in the wholesale price of gas this winter, meaning it has been able to pass on savings worth more than £100 to customers since September.

Ovo Energy’s main offering is the Cheaper Energy Plan, which should be priced at under 1,000 pounds for a UK average medium dual fuel user (3200 kWh electricity and 13500kWh gas), paying by direct debit, inclusive of VAT.

In a dig at his larger rivals, Stephen Fitzpatrick, Founder and Managing Director of Ovo Energy said: “Fair, transparent pricing will help consumers to trust the energy market again. That means when wholesale prices fall, customers shouldn’t see prices being frozen, they should see them falling.”

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