Ovo increases its bills by 3pc

Suzie Neuwirth
INDEPENDENT supplier Ovo Energy yesterday said it would be raising its prices for new and renewing customers by three per cent, due to a spike in wholesale prices in April.

The average annual dual fuel bill will now cost £1,028.

The Ukraine crisis caused gas prices to rise temporarily, due to concerns that Russia would cut off supply. In contrast the big six tend to buy more gas futures contracts, so are less exposed to short-term fluctuations.