OVO Energy has fallen from grace, claims moneysupermarket.com

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OVO Energy has fallen from grace, claims moneysupermarket.com

Thu 29th Apr 2010

Price comparison site moneysupermarket.com has highlighted the price rises brought in by OVO Energy as an example of how quickly the market can change and stressed that customers must keep an eye on such situations.

Scott Byrom, utilities manager at the website, made his comments after OVO Energy revealed that it would be increasing its New Energy Fixed rate by over eight per cent.

He pointed out that the energy provider appeared in the industry "with a bang" last year and offered a good value online dual fuel tarrif, but "the fall from grace is stark".

Mr Byrom predicted that there could be more increases in prices in store for customers if the cost of wholesale gas continues to go up.

"Should we see a summer of price rises then I'm sure many consumers will be extremely concerned about their ability to afford their energy bills," stated the moneysupermarket.com spokesperson.

Last month, the site revealed that loyalty to energy providers may not save people money, with its research suggesting that consumers could save about £346 per year by switching.

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