First Utility: Save an average of £229* a year

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This article is featured on Larger Family Life in conjunction with affiliates First Utility. Read on to see what they have to say about spiralling energy costs and find out  find out how you can save more up to £229 a year comparied to the big six – guaranteed: 

 

“We believe there is a problem in the energy market today. There are too many people overpaying for energy and not enough is being done to inform these customers about cheaper alternatives.

Approximately 70% of the UK are on Standard Variable tariffs, the default tariff, from the Big Six suppliers and are overpaying by an average of £235 a year – amounting to £3.4bn a year UK-wide!**

That’s a huge amount of money and something needs to change.

The fault lies with the industry. Traditionally, the energy industry has done little to engage its customers or transparently inform them of cheaper tariff options. We don’t think this is right.

We want the energy industry to rethink things, scrap the standard variable tariff and commit to more engaging measures to encourage customers to pick an alternative, better value, tariff.

That means:

  • Replacing the standard variable tariff with an ‘Out of Contract’ tariff that clearly shows customers there may be a better option
  • Customers communicated to on a monthly basis to let them know if a cheaper tariff is available
  • This communication to include details of the cheapest tariffs on the entire market to give

 

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We think more engaging communication combined with a fundamental shift in the name and design of the ‘out of contract’ tariff will help inform and empower customers to change to a cheaper tariff.

 

What we’re doing about this:

We have written to MPs, Ofgem and consumer bodies to enlist their support for this campaign and we’ve also outlined our thinking as part of our submission to the Competitive Markets Authority investigation into the energy market.

This is not something that we can do alone. We need the whole industry to make this commitment – it’s only then that real change can happen.

 

We’re also leading the way in our own actions

Very few of our customers are on our iSave Everyday variable tariff and we actively communicate to them once a month to alert them to other tariffs available which may be better for them. We also provide monthly bills, including details of our cheapest available tariff as part of our commitment to engaging customers, giving them information in an easy to understand way and helping them lower their energy bills.

We want all our customers to choose a fixed-price tariff that best suits them, whether that fixes prices for one, two or three years. That’s because we can negotiate better deals if we share a commitment for a specific contract length.

We want all our customers to choose a fixed-price tariff that best suits them, whether that fixes prices for one, two or three years. That’s because we can negotiate better deals if we share a commitment for a specific contract length.

 

Save up to £229* a year with First Utility

*Customers who obtained a quote and subsequently went on to register with first:utility to one of our 1, 2 or 3 year fixed term and everyday tariffs between 1st October 2014 and 31st December 2014 saved an average of £229 per year. This applies to people switching to First Utility via the website. Click here to find the right tariff for you.

 

How you can get involved:

Share our campaign on Twitter and Facebook and let’s move the conversation on. If we can get more people engaged and more people informed and confident to change to a cheaper energy tariff then we can save the UK billions!”

 

Ian McCaig, CEO, First Utility

 

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“First Utility believes that the industry needs to change from within and do more to inform and support customers to help them make informed choices about the best tariff. A big step would be to scrap the standard variable tariff and call it what it is – the ‘Out of Contract Tariff’ i.e. the tariff you’re left on when you’re not on one of the good ones!”

Sarah Willingham, Consumer champion, LetsSaveSomeMoney.com

 

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“Its great to see First Utility leading the way and challenging the way that things have been done for FAR too long! By making some of these changes ultimately people WILL save more money!”

 

 

** Based on reported percentage of customers affected by recent price decrease of variable tariff (69% rounded up)

[1] Based on 70% of UK dual fuel households served by the Big Six (90% of 22.7m homes) on variable tariffs, each overpaying by average of £238 = £3.4bn

[2] Based on reported percentage of customers affected by recent price decrease of variable tariff (69% rounded up)

[3] Difference between average the annual Big Six dual fuel variable tariff for typical usage (£1,157) and First Utility’s cheapest dual fuel tariff at typical annual use (£919). Typical usage defined as 3,200 kwh gas and 13,500 kwh electricity. £238, rounded up to £240

[4] Research carried out by Opinion Matters, commissioned by First Utility, between 17/10/2014 and 27/10/2014 surveyed 2,044 UK adults who are electricity and / or gas bill payers

 

 

 

 

 

 

 

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