First Utility has today launched a new fixed tariff costing £960 a year on average, making it the best buy on the market for gas and electricity, says GoCompare.com.
The new plan iSave Fixed v37 March 2016 is fixed until spring 2016 and is available to new and existing customers and could save a typical energy customer £307 a year compared to the average tariff cost of £1,330 calculated by Ofgem. The plan is a paperless-billing tariff but customers can choose to pay an extra £24 a year to receive paper bills. Prices will be fixed until 31st March 2016 and those who wish to end the contract early will have to pay a £30 penalty.
Within 24 hours OVO Energy released its new Better Energy Fixed (Online) tariff to take the current runner-up slot in the list of best short-term fixes. This tariff will cost the average householder £973 a year with a £30 per fuel early cancellation fee.
First Utility has also released a longer-term tariff called the iControl Fixed v38 January 2018. This is also a paperless tariff costing an average householder £1,169 a year. Prices are fixed until the 31st January 2018 but it does carry a hefty £50 per fuel early cancellation fee and customers can again choose to pay £24 a year extra to receive paper bills.
Jeremy Cryer, energy spokesperson at Gocompare.com, said: "This is more good news for householders. This time last year energy price rises were coming thick and fast but in the last week we've seen some great new short-term fixed tariffs from OVO, E.ON, Extra Energy and now First Utilty all of which will give customers protection from price increases throughout this winter at least.
"With older tariffs coming to an end each month it's important that householders compare the new deals available to ensure they remain on a competitive tariff that's suitable for their needs. Doing nothing can be an expensive option as energy suppliers' standard tariffs are often the worst value if you're looking to save money."