The new tariff, Switched On, will cost the average energy user £981 per year including VAT.
Flow Energy has launched the tariff less than a month after fellow independent supplier GB Energy Supply went out of business, with many commentators saying that its unsustainably low energy prices combined with market volatility were to blame. Northern Ireland supplier Open Electric also succumbed to market conditions in December 2016.
Switched On will be available as a duel or single fuel tariff and offers a fixed rate guarantee until April 2018.
Managing director of Flow Energy Andrew Beasley said: “While the big six and other energy suppliers are expected to raise their prices significantly over the coming months, we’re committed to keeping our prices down.
“Switched On is our first new tariff of 2017, and offers one of the most competitive fixed rate tariffs currently available on the market.”
Beasley said that flow appreciates “the price of energy is an ongoing concern for consumers, and we believe that providers should do much more to reassure customers they’re getting the energy deal, and service, they deserve from their chosen supplier.”
A recent survey conducted Which? Confirms that the cost of energy is a key concern for UK consumers with nearly two-thirds of people questioned saying they were worried about energy pricing. This represents an eight percent rise since September last year.