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Ovo Energy has announced a 7.6 per cent price rise to its pay monthly fixed tariff, as a result of increasing gas and electricity wholesale costs.
The independent supplier’s Better Energy pay monthly tariff will increase by £63 per year and dual fuel customers’ bills will go up to £886 from £823 annually.
The firm claims that the wholesale price of gas has increased by 23 per cent and 16 per cent for electricity since its last price change at the end of 2015, when it cut the price of its fixed dual fuel tariffs by 1.7 per cent.
Ovo’s price increase will be effective from 10 June.
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