Energy company First Utility now has one million customer accounts, claiming to be the first independent supplier to reach the milestone.

The power provider has seen a 10-fold increase in customer numbers in less than three years and accounts for more than 2% of the residential energy market as Big Six shares have reportedly reduced from 99% in 2011 to 92% currently.

The news comes as more customers are switching to smaller energy suppliers compared to the last few years.

First Utility now serves more than 550,000 customers, most with both gas and electricity accounts, it said.

Energy Secretary Ed Davey said: “Reaching one million customer accounts is a fantastic milestone for First Utility. With over two million customers now signed up to independent suppliers overall it’s clear that households increasingly trust them and are benefitting from competition in the market.”

The company has launched an independent charity organisation First Utility Foundation, where it has pledged to give 1% of its profits every year to support vulnerable people across the UK.