Major energy supplier launches new deal cheaper than price cap - should you fix?

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A MAJOR energy supplier is offering a new fixed deal which is cheaper than the energy price cap. Ovo Energy has launched a fixed tariffs for existing customers that is below the current £2,500 ener…

Experts are predicting that after this, the average bill could fall below this, to £2,200 from July.Below we explain all the details of Ovo's new deal, plus what you can do to lower bills now.Ovo is offering a one-year fixed tariff priced at an average annual cost of £2,275 a year based on typical dual-fuel use.This means that if you pay quarterly or use a prepayment meter, you won't be able to take advantage of the deal.

Suppliers could currently be offering fixed deals costing between £2,200 and £2,500 a year for the average household, according to USwitch. He added: “When fixed deals return, consumers will need to weigh up whether signing up to one is the best option for their individual circumstances.

 

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Ovo launches energy deal below government price capThe supplier launches 12-month tariff of £2,275, as falling gas prices finally start feeding through to bills. I'm guessing that's known internally as the mug punter tariff. And given wholesale gas prices are the same as in 2021 they could halve that and still make a profit.... How can this be a saving? Ono's unit charges are exactly the same as out current supplier Scottish Power. Tongue in cheek advertising to me, offering something that is no cheaper?
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