First:utility storms the energy market - Utilities - News - Moneyfacts

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First:utility storms the energy market

First:utility storms the energy market

Category: Utilities

Updated: 28/09/2012
First Published: 25/09/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

As the nights begin to draw in and the weather turns more autumnal, thoughts turn to staying warm indoors.

Choosing a suitable energy tariff can be a baffling task with so many providers claiming to offer the best deal on the market.

First:utility tops the market with its discounted variable iSave v12 tariff. Fixed initially for three months, the average cost works out at £1,054. Based on an
average dual fuel tariff costing £1,310, this deal gives an average saving of £256.

Mark Todd, director of independent price comparison service Energyhelpline.com, said: "As the UK braces itself for the winter weather and further economic uncertainty, it's a welcome sight to see first:utility buck the current price rise trend by offering cash-strapped consumers a cheap internet and fixed tariff.

"However, consumers wishing to take advantage of the first:utility offer should switch now to avoid disappointment. It's not clear how long this offer will be around for and market predictions show price increases are likely to be imposed by the UK 's leading energy suppliers.

"We have already started to see some of the cheapest tariffs on offer begin to rise in price, and we can only expect this trend to continue as the other providers continue to follow suit."

"For those who move quickly, it could be Christmas come early."

UK's Cheapest Fixed and Variable Gas & Electricity Tariffs

Tariff
Average Cost*
Average Saving**
Fixed or Variable

Tariff Details

First utility
first:utility
iSave v12

£1,054

£256

Discounted Variable

  • Initially fixed for 3 months.
  • Paper bill available for £1 pm extra
  • £30 per fuel cancellation penalty during first 3 months.
  • No cancellation penalty thereafter.

nPower
npower
Energy Online Jan 2014

£1,071

£239

Discounted Variable

  • Rates guaranteed to be at least 3% cheaper than npower standard until 31st Oct 2013
  • £30 per fuel cancellation penalty if you leave this tariff before 31 Oct 2013

nPower
npower
Bill Saver November 2013

£1,086

£224

Discounted Variable

  • Rates guaranteed to be at least 5% cheaper than npower standard until 30th Nov 2013
  • £30 per fuel cancellation penalty if you leave this tariff before 30 Nov 2013

First Utility
first:utility
iSave Fixed v4

£1,087

£223

Fixed

  • Prices fixed until 31 March 2014.
  • Paper bill available for £1 pm extra
  • £30 per fuel cancellation penalty if you leave this tariff before 31 March 2014

OVO energy
OVO Energy
New Energy Fixed

£1,088

£222

Fixed

  • Prices fixed for 12 months
  • £30 per fuel cancellation penalty if you leave this tariff

Scottish Power
Scottish Power
Online Fixed Price Energy
March 2014

£1,099

£211

Fixed

  • Fixed until 28 February 2014
  • No cancellation penalty

Eon Energy
E.ON
Save Online v12

£1,113

£197

Discounted Variable

  • Guaranteed to be at least 2% cheaper than e.on standard in 1st year on supply
  • £30 cancellation penalty ( £20 for gas and £10 for electricity) if you switch away before the end of the guarantee period.

British Gas
British Gas
Online Variable
November 2013

£1,120

£190

Discounted Variable

  • 6% discount against their Clear & Simple prices until 30th Nov 2013
  • £30 per fuel cancellation penalty if you leave this tariff before the contract end date of 30/11/2013.

EDF Energy
EDF
Standard

£1,129

£181

Variable

  • Public price freeze till 2013
  • No cancellation penalty if you leave this tariff

OVO Energy
Ovo Energy
Green Energy Fixed

£1,147
£163

Fixed

  • Fixed until 31 October 2014
  • £30 per fuel cancellation penalty if you leave this tariff before end of fix

Scottish Power
Scottish Power
Online Fixed Price Energy November 2014

£1,154
£156
Fixed
  • Fixed until 31 October 2014
  • £30.64 cancellation penalty for electricity & £20.42 for gas if you leave before then end of fix

Eon Energy
E.ON
Fixed Price April 2014

£1,160
£150
Fixed
  • Fixed until 1 April 2014
  • £5 per fuel cancellation penalty if you leave this tariff before the end of fix

nPower
npower
Go Fix January 2014

£1,160
£150
Fixed
  • Fixed until 31 Jan 2014
  • £30 per fuel cancellation penalty until end of fix

Tariffs correct: 28/09/2012

*All calculations are for an average usage dual fuel household paying by monthly direct debit. Average usage as defined by OFGEM is 16,500 kWh pa of gas and 3,300 kWh pa of electricity

** based on average dual fuel tariff costing £1,310 (Source: OFGEM 1 Aug 2012)

Energy Helpline

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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