New cheapest energy tariff from First Utility
Battle for best buy position heats up.
First Utility has jumped to the top of the energy best buy tables after cutting its prices for the seventh time this year.
The price of its iSave Fixed v41 March 2016 has been reduced in response to falls in the cost of wholesale energy. It will now cost the average household using a typical amount of gas and electricity £951 a year, and will ensure prices remain fixed during this winter and the next.
It’s available to new and existing customers, though those that choose to pay by Direct Debit will qualify for the cheapest deal; paying by cash or cheque attracts an extra charge of £2 per month or £24 a year.
The tariff is available as dual fuel or electricity only.
A termination fee of £30 per fuel applies if the tariff is cancelled before the end of term.
How it compares
Competition in the energy market has been heating up, with Big Six energy companies and smaller independent providers like First Utility jostling for position in the best buys over the past few months.
You can keep up to date on the latest changes in The cheapest gas and electricity tariffs.
Here’s how the new tariff from First Utility compares to the other leading dual fuel tariffs on the market right now.
|
Energy supplier |
Tariff |
Type of tariff |
Average annual cost |
|
iSave Fixed v41 March 2016 |
Fixed (until March 2016) |
£951 |
|
|
Extra Energy |
Fresh Fixed Price December 2015 |
Fixed (until December 2015) |
£958 |
|
iSave Fixed March 2017 |
Fixed (until March 2017) |
£960 |
|
|
Fixed Energy Online April 2016 |
Fixed (until April 2016) |
£963 |
|
|
ScottishPower |
Online Fixed Price Energy January 2016 |
Fixed (until January 2016) |
£970 |
|
Ovo Energy |
Better Energy Fixed |
Fixed for 12 months |
£973 |
|
Rate Saver 12 Month Fixed 1412 |
Fixed for 12 months |
£987 |
|
|
Sainsbury’s Energy |
Fixed Price January 2016 |
Fixed (until January 2016) |
£998 |
|
Extra Energy |
Bright Fixed Price Dec 2015 |
Fixed (until December 2015) |
£998 |
|
The Co-operative Energy |
Fair and Square January 2016 |
Fixed (until January 2016) |
£1,008 |
Source: lovemoney gas & electricity comparison centre.
Prices based on average consumption as measured by Ofgem of 13,500kWh of gas and 3,200 kWh of electricity and a customer paying by monthly direct debit including VAT.
N.B Prices are the average for the whole of the UK. Actual costs vary by region.
Compare gas and electricity tariffs
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Comments
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Obviously ,many of us are on fixed contracts and cannot change at the drop of a hat. So what is the downside of this supplier? There is no such thing as a 'free lunch' as I have found over many years in the financial markets. Last year ,when I looke, the record of First Utility was rubbish in admin. Is this true now? I stuck with OVO last year.
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E.ON Collective Fixed 1 Year October 2014 that I'm on is cheaper than ISUPPLYENERGY, by about 2%. DALIGAS is a bit cheaper by 5%. Differences are not worth the hassle of changing. I got a collective rate signing up to Moneysavingexpert energy watch thingie.
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The Headline for this news item refers to CHEAPEST ENERGY TARIFFS The headline is INCORRECT. My Energy suppliers are DALIGAS for my domestic gas and ISUPPLYENERGY for my domestic electricity. I have received my utility supplies from these two companys for more than 12 months. A long time ago, I realized it was a myth to go dual fuels and decided to look into separate suppliers. I have frequently compared my suppliers with the market suppliers and no one has been able to beat Daligas plus isupplyenergy. I have found both companies to be 100% great.
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15 December 2014