First Utility sparks energy price war

First Utility, the independent energy company, has cut its prices to make it the cheapest energy supplier in the UK.

Its iSaveV3 dual fuel tariff now costs £889 per year for a typical energy user - £10 cheaper than British Gas’ WebSaver6 and more than £20 cheaper than the average of the best online deals from other energy suppliers.

To qualify for the First Utility tariff, consumers must operate their account online and pay by monthly direct debit. For those unable or reluctant to go online and use direct debits, First Utility also operates the cheapest Standard energy tariff on the market, with a price tag of £1,074 for a typical energy user.

Its latest initiative comes amid growing consumer concern at the huge profits being racked up by the big six energy companies. Mark Daeche, chief executive of First Utility, said: “We’re aiming to send out a clear message that there is a real alternative to the big six incumbent energy companies.”

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