The new plan will cost the average consumer £1,170 per year and ensures energy prices are fixed until 30 April 2015.
Customers who decide to switch to this tariff will find themselves unaffected by the widely expected pre-winter price rises, for both 2013 and 2014.
The deal replaces the iSave Fixed v8 and has a £30 per fuel cancellation.
The cheapest deal on the market
iSave Fixed v9 April 2015 replaces M&S Energy’s Fix & Save, as the cheapest fixed price deal, after the latter was taken off the market yesterday.
Other options for those looking to avoid price rises include npower’s Online Price Fix November 2014 tariff, which costs the average user £1,182 per annum and does not carry any early exit fees.
ScottishPower’s Help Beat Cancer Fixed Price Energy January 2017 tariff is priced at £1341 per year for the average consumer and includes a £10 donation to Cancer Research UK for each new customer, and a further £10 contribution for every year a customer stays on the plan. The tariff also includes a £25 per fuel cancellation fee.
‘Fight the Power’
First Utility, recently made headlines with its “Fight the Power” campaign, which aims to reduce the amount of time which it takes for a consumer to switch from one supplier to another.
Speaking on the initiative, First Utility’s CEO Ian McCaig said: “We are trying to bring to consumers a better deal, change the industry for the better, and make energy much less of a problem for every household in the UK.”
*The price of the contracts mentioned in this article are based on the consumption of an average British consumer, using 3,300 kWh of electricity and 16,500 kWh of gas every 12 months and paying monthly via direct debit.