New First Utility plan tops best buy table

The independent energy supplier has again cut its energy prices, whereas rival supplier Ovo Energy has announced a price hike

First Utility maintains its dominance of the best buy table

First Utility maintains its dominance of the best buy table

Click here for an updated best buy table

First Utility has tightened its grasp of the top spot on the best buy energy table with the release of its iSave Fixed August 2015 tariff.

The new plan will cost the average home £992.48* per year and includes a £30 per fuel cancellation fee. This fee is only charged should you sign up and then decide you want to leave before the plan comes to an end.

At present there is a difference of close to £300 between the cheapest and most expensive energy tariffs available on the market.

Energy best buy table

 

Supplier

Plan Name

Price

First Utility

iSave Fixed August 2015**

£992

Extra Energy

Fixed Price September 2015**

£1,002

Flow Energy

Thames Online Fixed September 2015

£1,010

OVO Energy

Cheaper Energy Fixed**

£1,028

Green Star Energy

No Worries 12 Months Fixed 1405**

£1,041

* Based on a medium usage customer using 3,200 kWh of electricity and 13,500 kWh of gas paying by direct debit with bill sizes averaged across all regions.

**These plans carry cancellation fees

Ovo Energy hikes rates by 3%

Following a number of consecutive price drops, Ovo Energy has announced a 3% increase on their fixed rate energy tariff.

As a result, the supplier’s Cheaper Energy Fixed tariff has dropped from the second spot in the best buy table to the fourth. The tariff will now set back the average home £1,028 per year. The change will not affect customers already signed up to a previous energy plan, unless they are due to renew.

The reason for the rise is linked to Ovo Energy’s “cost reflective pricing”, which means the supplier changes its costs in line with wholesale energy prices.

Speaking to City AM, Jason Sharpe, customer service director at Ovo Energy said: “We don’t hedge ahead as much as the big six, so we can react a lot quicker to drop prices if wholesale prices go down.”

Plans with no exit fees

It’s worth noting that of the top five only Flow Energy’s plan does not contain exit fees. Cancellation or exit fees are applied if you decide to leave your plan before it ends.

Another alternative for those looking for a flexible plan without cancellation fees, is EDF Energy’s Blue+Price Promise August 2015 tariff, which is priced at £1,049 per year. The plan just missed out on the top five, but is the cheapest offer from one of the big six energy companies.

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Join the conversation

  • Fred

    i don’t know if first utility is the cheapest energy provider but recently it changed our price plan (after joining them 2 month ago) from £62 a month to £274 a month for a 2 bedroom flat in London. I left originally British Gas for its excessive £186 a month dual energy bill (which is £100 over the price we originally paid in a 2 bed flat in Reading) for the recommended first utility cheapest price plan… but £274 a month without giving any explanation is far beyond robbery. Who can we trust ? Are we milking cows?

  • margaret chapman

    We moved from First Utility and will never go back. We never got bills for ages and when we did, we suspect they were wrong, they were so complicated. In the end I worked out the email address of their CEO, Mark D’ath?? (Sorry about spelling) and complained to get it sorted. They may be cheapest but we prefer a better level of administrative service rather than erratic bills every now and again.

  • David Childs

    I share Margaret’s views on First Utility and have recently moved away from them. Incorrect bills and direct debits not collected (even though ample funds in my bank account) followed by threatening letters, make for a lot of aggravation and wasted time. Recommend steer clear of F.U. unless/until they get their admin’ sorted.

  • MT Cambridge

    Steer clear of First Utility if you want decent customer service, they have extra customers but communicating with them is very poor. Their service is not growing with their success. I moved to Ovo after similar problems outlined below.

  • http://www.SteamCleanCarpetService.co.uk buckclean

    Margaret your experience is exactly the same as ours only I did not go to the top of the pile to get answers – billing was hideously complicated to understand as it was confused by estimates, real and customers readings – we had no money taken for months then horrendous bill followed by huge credit – still have no idea whether we were ripped off or not as a result of their software meltdown as billing was incomprehensible – it was a totally simple system to begin with as I gave them my reading they sent me a bill which was paid on DD – perfect – then they started messing around with reading dates and changes to billing and account records and hey presto total disaster – and as this was happening the chief executive was giving sound bites on radio as young turk of the energy business sorting out the big six – total joke company now…

  • cynthia southwart

    I switched to first utility thinking i had fixed rates for 2 years. within 6 months my payments went up. their explanation was:they under estimated my usage: I have requested a full copy of my agreement with them plus copies of my bills and payments. Everything done on line re:readings gives you nothing in comeback. I just getting fobbed off.

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