First Utility said it is replacing its current two year tariff the isave Fixed June 2017 v1 in order to pass on the recent drop in wholesale prices, adding that it is the cheapest two year fixed tariff offered by the supplier since 2012.
It said the new tariff is in response to customers increasingly taking advantage of relatively low wholesale prices by choosing fixed tariffs to get price certainty for longer. The isave Fixed June 2007 v2 will fix prices until summer 2017.
The new tariff will cost customers £994 a year and is available to both new and existing customers. First Utility says that customers that switch to the supplier save an average of £229 a year on their energy bills.
First Utility’s chief customer officer Ed Kamm said: “By cutting the price of our two year fix even further we’re helping to keep bills lower for longer. We are already topping the table with our one year fix tariff and our three-year fix is the cheapest until 2018 and includes a free Cosy smart thermostat – giving customers more control of their heating.”