LONDON, UNITED KINGDOM--(Marketwire - Aug. 24, 2012) - First Utility (http://www.first-utility.com/) recently launched the UK's cheapest fixed energy tariff, iSave Fixed v3. For the average customer, the new tariff is £259 per year cheaper than the equivalent energy deal from Big Six energy provider British Gas* and £218 cheaper than the average energy bill from the big six providers, as reported by lovemoney.com**.
As well as being the cheapest fixed tariff in the UK, iSave Fixed v3 gives customers peace of mind by fixing their gas and electricity prices until 31st December 2013.
Darren Braham, co-founder of First Utility, stated: "iSave Fixed v3 is not only the cheapest fixed online tariff on the market, but it is on average £103*** cheaper than all the other fixed tariffs available today. In launching this tariff, we're aiming to bring further competition to the market and offer consumers a real alternative to the Big Six suppliers, something that consumer champions and industry experts continue to call for."
"We believe our market-leading deal will appeal to people looking to save money on their energy bills, as well as those looking for peace of mind," continued Mr Braham. "With fixed prices until December 2013, the tariff is appealing in both the short term and also for those looking for longer-term price security."
Ann Robinson, Director of Consumer Policy at uSwitch, commented on the launch****: "The launch of the cheapest and longest fixed plan on the market from First Utility is great news for consumers. The battle for competitive plans is really hotting up, with First Utility coming out fighting."
"We have seen signs recently that there could be a light at the end of the tunnel for those households struggling with their energy bills."
"We urge the Big Six to follow the smaller suppliers' lead in offering lower energy tariffs to their customers, and to do it sooner rather than later."
Compare gas and electricity prices with a quote for iSave Fixed v3 at:
About First Utility
First Utility is the smarter independent energy supplier, offering electricity and gas services to a range of consumer and business customers. It is the only energy provider to roll out smart meters to all its customers, throughout the UK. It is through the use of smart metering technology that First Utility can empower consumers to manage and reduce their own energy consumption and bills. First Utility is headquartered in Warwick and has over 100,000 customers throughout the UK.
* Comparable figures from the 'Big Six' suppliers are as follows:
British Gas - Fixed Price April 2014 (£1,299 per annum, +£259 difference to First Utility)
SSE - Fixed Discount April 2014 (£1,151, +£111)
EDF - Blue + Price Promise September 2013 (£1,054, +£14)
EON - Fixed Price April 2014 (£1,160, +£120)
Scottish Power - Online Fixed Price Energy November 2013 (£1,052, +£12)
Npower - n/a
** 'First Utility launches UK's cheapest energy deal', Rebecca Rutt - http://www.lovemoney.com/news/household-bills/gas-and-electricity/16652/uks-cheapest-energy-deal-launched
*** First Utility's new iSave Fixed Price v3 costs an average of £1,040 per annum based on a medium user. This figure is calculated on an average consumption of 3,300 kWh of electricity and 16,500 kWh of gas.
**** 'Price war? New cheapest fixed-energy plan from First Utility', Nicholas Frankcom - http://www.uswitch.com/blog/2012/07/31/price-war-new-cheapest-fixed-energy-plan-from-first-utility/