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First Utility offers cheapest energy in the UK

Independent energy supplier First Utility now offers the cheapest gas and electricity tariff in the UK.

The firm becomes the second to reduce its costs below the £1,000 mark, after Ovo announced the average household would only pay £998 per year.

First Utility has gone slightly cheaper and now offers consumers the iSave Fixed July 2015 tariff, which will only charge £994 per 12 months.

Smaller companies are looking to take advantage of the uncertainty and distrust of the Big Six suppliers, which are currently being investigated over competition concerns.

Clare Francis, of comparison website MoneySuperMarket said, said: "The move is another boost to cash strapped bill payers and is a welcome addition to the David and Goliath price war we have seen kick off recently."

First Utility has around 400,000 customers in the UK, a figure that is likely to improve given the decision to offer the lowest prices in the country.

Posted by Rachel Jenkins