Price war continues in energy sector

23/10/2009

Customers have been offered a new best-buy gas and electricity tariff, as the "price war" among suppliers heats up.

Ovo Energy has discounted its existing New Energy Plan, bringing average annual costs for dual fuel customers down to £921.

The tariff will therefore be the cheapest on the market for customers in 13 out of 14 UK regions.

Ovo Energy's deal also beats out two other offers launched earlier this month that had previously topped the best-buy tables.

A reduction to E.ON's FixOnline 3 tariff, carrying typical yearly costs of £962, was launched on October 2nd.

However, First Utility then launched a discount to its iSave tariff on the same day, bringing costs down to £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."

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