Battle heats up between small suppliers as First Utility becomes cheapest energy supplier on the market
Small supplier First Utility has today knocked Ovo off the coveted top spot in the energy best buy tables. Its new plan, iSave Fixed May 2015, costs just £1,013 a year, £252 cheaper than the average standard plan across the big six energy providers.
The plan which replaces the supplier’s iSave Fixed April 2015, is £15 cheaper than its preceding offer which cost £1,028 a year. It will also provide an extra month of protection from price hikes until May 2015. However, consumers looking to switch away before then will have to pay a £30 cancellation fee per fuel.
Tom Lyon, energy expert at Uswitch.com, says: “It’s fantastic to see the small energy suppliers battle it out to win customers, and is a sign that competition stands a chance of survival in this market. I strongly urge the big six to join in this contest and up their game if they want to hold onto their customers, who could very easily be lured away by competitive prices and a fresh start.
“Consumers need to sit up and grasp these competitive deals with both hands. There is currently £286 between the cheapest and the most expensive energy tariff proving that there is plenty to gain by shopping around.”
Energy Best Buy table:
Source: Uswitch.com
Based on a medium usage customer using 3,200 kWh of electricity and 13,500 kWh of gas paying by direct debit (Spark requires this in advance) with bill sizes averaged across all regions.
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Notes to editors
Based on a medium user consuming 3,200 kWh of electricity and 13,500 kWh of gas paying by monthly direct debit, with bill sizes averaged across all regions.
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