first:utility launches iSaveV2 tariff

Challenger energy company, first:utility, UK smart meter energy supplier, has announced the first energy price reductions of 2010 with new tariff iSaveV2, which makes first:utility the cheapest energy supplier in the country.

The price reductions mean that, for the first time in almost two years, the average cost of an annual residential energy bill in the UK with first:utility is less than £900, at £898.

Customers on the new iSaveV2 tariff will be offered the option to get a free smart meter installed in the coming months as first:utility continues its free rollout of smart meters across UK households. The company is currently installing free smart meters for Midlands and East Midlands customers, and will announce the next phase of the roll-out in the coming weeks. In the meantime, customers will be incentivised to submit regular meter readings online, with financial rewards for doing so; they will also receive monthly bills – the benefits being more control for the customer as they will have an accurate bill and greater knowledge of their monthly energy spend, instead of waiting for a quarterly bill (which is often an inaccurate estimate).

Mark Daeche, CEO of first:utility said: “We hope this will come as welcome news to the millions of people who are concerned about the increased cost of heating their homes during this recent spell of cold weather. We want to demonstrate that we are on the consumer’s side, and that we offer a real alternative for people looking for better ways of having their energy supplied, by providing accurate bills, greater visibility of usage and more modern technology which will keep bills low, not just now but in the long term.”