Collective power: Cheapest energy tariff at £892

A new energy tariff claimed to be the cheapest fixed deal on the market is on offer for 10,000 customers. It stands at £892 per year for an average dual […]

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By Priyanka Shrestha

A new energy tariff claimed to be the cheapest fixed deal on the market is on offer for 10,000 customers.

It stands at £892 per year for an average dual fuel household – more than £260 lower in comparison to the Big Six average standard tariff.

First Utility is offering the tariff under the Big Deal collective switch, which aims to save consumers money by asking suppliers to submit the cheapest tariff they can with reduced commission.

The new tariff will be fixed until 31st March 2016 and is available for the first 10,000 customers until midnight on 20th February.

11th FEB - Big deal and first utility energy tariff

Energy Secretary Ed Davey believes “there’s power in numbers”.

He added: “The pressure is on for energy companies to up their game. With the time it takes to switch halved and more competition, there’s never been a better time to shop around – so sign up and see how much you can save.”

Consumers will be charged £30 per fuel if the tariff is cancelled before the end of term.