MSE News: First Utility launches cheapest energy fix: Is it worth switching to?

Former_MSE_Helen

"First Utility's new fixed energy tariff is £1,013/year on a typical gas and electricity bill..."

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First Utility launches cheapest energy fix: Is it worth switching to?



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Aquamania

Fixed until 31 May 2015 you say?

For me, separate supplies are cheaper (and looking at the prices may be cheaper for many)

Take a look at zog energy or daligas for gas supply both of which are fixed for 12 months from date of actual switch which will probably mean about 5 weeks less than the FU deal even if you switch today
Unfortunately, neither Zog nor Daligas currently accept customers supplied via an IGT - I don't know if FU do
Also Zog and Daligas are not shown on all the comparison sites for some odd reason??? :huh:
(I think Zog have got onto moneysupermarket.com recently, so hopefully are included in the MSE Cheap Energy thing)
Energylinx definitely has them both

iFix for electricity comes out good too, although that is only fixed until March 2015 currently.

I don't think Zog offer any cashback/referral payments. Is that why MSE didn't publicise the fact they reduced their gas prices (on the 12 month fixed tariff) last week?
According to them, the price reduction was as a result in the lower cost of gas on the wholsesale market.

So when are the other suppliers following suit? I know SSE (and ebico) plan to reduce prices soon, but that was as result of pre-Christmas changes to government levies, so what about a price reduction for the reduction in wholesale price too?

NPowerUser

I think this will be the first of many cheaper deals between now and the middle of May 2014.

With so many people about to finish EDF March & April 2014 fixes, falling wholesale prices, the government waiving some green taxes etc, let them fight it out for our business.

molerat

MSE must have a different definition of "cheapest" than my dictionary has. Fourth cheapest and mostly shorter duration dual fuel (+£51) for me behind ExtraEnergy Sep15, NPower June 15 and GreenStar 12mth and way behind single fuels (+£149).

Using the average 13500/3200 it comes 2nd, £31 behind ExtraEnergy and £100 behind single fuels. It looks to me that the tariff has been engineered to be cheapest in a very narrow set of circumstances and MSE has fallen for the spin ....... do FU use the same PR firm as Asda

More rubbish MSE reporting, tempted to mark it as spam :mad:

MillicentBystander

Cheapest for me but would I go with them? Err, nope.

vkharch

I've already switch to 1st Utility a week ago, but to iSave Fixed April 2016, it worked out cheaper for me than iSave Fixed May 2015 by £14 a year. Even if I had to switch earlier with current £30 cashback and then possible another £30 at the next switch, their £60 exit fee is fair I think it worth it. I've been with them before, very sluggish initial transfer but afterwards were OK; in my case as bad as the rest BIG6, but cheaper.

RedDwarf82

I just did the numbers for me and they are the cheapest from all the companies Aquamania listed for electricity. For gas Daligas is the only one cheaper, but £50/year cheaper.
Zog is also £50 cheaper when I put my postcode... but it's because it considers it's "East England" when I actually live in London (tube zone 4). I am not sure the final price would be the quoted one. When you consider the London price is not cheaper any more.

I checked ExtraEnergy but apparently they don't give you a quote online, you have to call them??

Whenever I can I will change the gas...

Pureedfruit

I would think twice about switching to first-utility (fu). They have gained a reputation for competitive tariffs and I am one of many that switched to their very competitive iSave v15 Dual Fuel tariff when first offered. It is due to run for at least another year but recently they pulled it not just for new entrants but also for those already on it. It is now coming to an abrupt end at the end of this month.
“ We have been working with the industry regulator OFGEM and other energy companies to make tariffs simpler and easier to understand and as a result, from 1 April 2014, we will only have four tariffs. This means that your current tariff will be removed on this date and replaced with our iSave Everyday variable tariff.”

What a con. Not their fault that they have pulled one of their most competitive tariffs but that nasty regulator OFGEM. I think not. Then to add insult to injury, bearing in mind that the vast majority of users on this tariff will have switched to fu via a tariff comparison site they offer “our iSave Everyday variable tariff”. It is indeed an insult because it is nowhere near their most competitive remaining tariff. Moreover they must clearly think we are stupid and trust them so much that we are are going to take the easy option.

Unsurprisingly, I do not think that I will be the only one who immediately puts their new “iSave Everyday” tariff into a comparison site only to find out that it is a seriously **** offer. Going to cost me an additional £300 pa. Just another example really of the trick that insurance companies regularly play - get you in on a special offer and then jack up the rate the following year.

OK, as MSE has been keen to point out, fu do have a recently introduced rather more competitive tariff, namely iSave Fixed v18 which will only cost me £55 pa more than OVO, and had fu offered me that in the first place I might have stuck with them, but for being so totally disingenuous, insulting, and seriously stupid, I am off to OVO.