Independent energy firm Ovo Energy pushed its prices up 3% today, the supplier’s first rise after five price drops over the last year.
The chippy rival supplier to the Big Six blamed an “upward move” in wholesale costs in April and a “small rise” in the cost of supplying energy.
The cost of Ovo’s price for a dual fuel customer – i.e. for both gas and electricity – will now be £1028.
Ovo said this will affect new and renewing customers, making it the fourth cheapest energy supplier in the UK.
More than 82% of customers won’t be affected until their 12 month fixed contract are up for renewal, said the firm.
Founder and Managing Director Stephen Fitzpatrick said: “No company ever likes to announce that they’ve got to put their prices up… But unfortunately prices and the costs of supplying energy can go up as well as down.”
Mr Fitzpatrick grabbed headlines last year when he told MPs his bigger rivals were the “best filibusters in the business”.