First Utility launches cheapest energy tariff

First Utility has taken top spot in the energy best buy table.

Energy company First Utility has cut its prices for the seventh time this year and has jumped to the top of the best buy table as a result.

Its iSave Fixed v41 March 2016 will now cost the average household using a typical amount of gas and electricity £951 a year. And signing up to this tariff will fix your energy bills for 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.

[Related story: Water companies to cut bills by 5%]

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.

Here’s how the new tariff from First Utility compares to the other leading dual fuel tariffs on the market right now.

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. NB Prices are the average for the whole of the UK. Actual costs vary by region.

Compare gas and electricity tariffs at lovemoney.com