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OVO Energy customers are being told they can slash £202 off the cost of their annual gas and electricity bill before the price cap changes.
The new July to September price cap is set to be announced by Ofgem on Friday, May 24 and is forecast to drop prices for all variable tariff customers by another 7 percent, on top of 12 percent savings already seen in April.
But OVO Energy customers are being told they can beat the price cap and more if they sign up to a special fixed deal.
The Ovo Energy 1 year fixed + boiler cover offers a whopping 12 percent off the current price cap, or £202 a year, a larger saving than the next price cap will offer (roughly £135 for a typical household).
The catch is that you have to take boiler cover for on year, which costs £15 a month or £180 for the year and includes a boiler service.
If you needed boiler cover anyway, then it’s an unbeatable deal.
Without boiler cover, the tariff only offers 6 percent less than the price cap, which is £101 for a typical use household.
The latter is available to new customers, but would only give 5 percent less than the price cap.
Other options include Ecotricity, which offers a fix at 9 percent less than the price cap, and Octopus Energy, at 7 percent less.
The advantage of these fixes is that the price cap from September is currently forecast to increase, meaning one of these fixes now could bring you roughly in line with the July price cap but start saving you significant money in the coming winter.
E.On Next also pledges to guarantee a saving of at least 3 percent less than the price cap, meaning you can move to it with certainty that you will always beat the cap, whereas with the other options there’s a chance the cap could drop and you’d be left paying more than the going rate.
