First Utility launch cheapest energy deal on market
There is good news today for consumers with First Utility launching a new energy plan that is the cheapest on the market. The iSave Fixed V3 plan has now replaced ScottishPower's Energy Fixed November 2013, which was launched just two weeks ago, at the top of the best buy table.
First Utility's iSave Fixed V3 is fixed until 31st December 2013 and has an average bill size of £1,040 a year. At £12 a year less than the previously cheapest plan from ScottishPower, this plan is the cheapest on the market, but it is also the longest fixed deal. The introduction of First Utility's new tariff widens the gulf between the lowest priced and most expensive plan available - the difference is now over £300.
Ann Robinson, Director of Consumer Policy at uSwitch.com, says: "The launch of the cheapest and longest fixed plan on the market from First Utility is great news for consumers. Just two weeks after ScottishPower came out with the lowest fixed price deal, 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. As well as Good Energy's price cut yesterday and the introduction of the cheapest plan by First Utility we have continued to see falling wholesale prices. 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."