Read The Big Deal's press release on how it delivered the best energy deal in the market by none. And it ain't on price comparison sites. People power and lower commissions delivers!
Press release 11th Feb 2015
The Big Deal and First Utility launch sub £900 energy
Market leading tariff from First Utility is only £892 and will save the typical household more than £300 on average
Tariff available to members of the Big Deal collective switch
11 February 2015 - The Big Deal and First Utility have today announced the cheapest energy tariff on the market as part of a collective switch initiative to encourage more people to change energy provider and save on their energy bills. At just £892 per year for a dual fuel household with typical usage*, the tariff from First Utility is the cheapest tariff for four years and fixes prices until 31 March 2016.
The Big Deal collective switch aims to save consumers money on their energy bills by asking energy companies to submit the cheapest tariff they can with reduced commission to encourage lower prices. First Utility's bid of £892 per year for a dual fuel customer at typical usage was the cheapest.
First Utility's Big Deal tariff could save households more than £300 on their gas and electricity bill (see savings calculation). It is available to the first 10,000 customers to sign up for free at www.thisisthebigdeal.com. With 45,000 subscribers, the Big Deal has already saved consumers a collective £2 million on their energy bills since the summer of 2014. This deal is available until midnight on Friday 20th February, so bill payers will have to act fast to take advantage of the lowest price on the market. The Big Deal is taking a commission of just £12.50 per fuel for this deal.
With the number of people switching provider on the decline but many millions of households on standard variable tariffs costing hundreds of pounds more than the cheapest on the market, The Big Deal uses collective bargaining power and lower commissions to bring down prices and encourage UK households to change to a cheaper tariff.
Will Hodson, Co-founder of The Big Deal, said:
"The power of our 45,000 members and our lower commission of just £12.50 per fuel has meant we have created the cheapest energy in the land. Huge credit must go to First Utility for putting customers first and delivering such a great deal. It's so simple and easy to save. Everyone should sign up for free and do it."
Ed Kamm, Chief Customer Officer at First Utility, said:
"We're on a mission to save Britain money and stop people overpaying for their energy. That's why we put our energy into lowering prices and we're excited that together with the Big Deal we're able to offer the lowest energy prices for years. It shows that lower commissions mean we can make bills lower."
Ed Davey, Secretary of State for Energy and Climate Change,
"When it comes to energy deals, there's power in numbers. Collective switching clubs like the Big Deal demand better deals from energy companies and in total have slashed around £19 million off bills - all in under two years. The pressure is on for energy companies to up their game. With the time it takes to switch halved and more competition, there's never been a better time to shop around - so sign up and see how much you can save."
The average family on the British Gas standard tariff switching to the First Utility tariff will save £300.47 per year and £372.90 per year if they currently pay by cash or cheque and switch to direct debit (at medium consumption).
Full table of savings:
- The Big Deal First Utility tariff fixes prices until 31 March 2016.
- *Prices vary by region and usage. The calculations and comparisons used here are based on OFGEM's average consumption values of 3,200kWh of electricity and 13,500kWh of gas at the national average.
- At dual fuel medium consumption, the tariff costs on average
across all 14 regions is £892.49
The Big Deal First Utility tariff is the cheapest available tariff in 14/14 energy regions across the UK as of 11th February 2015
- The tariff is available as dual fuel only and can also be taken with an economy 7 meter.
- A termination fee of £30 per fuel is applicable if the tariff is cancelled before the end of term.
- The price reflected assumes payment by Direct Debit and paperless billing.
- The price of the deal will vary across regions and depend on levels of consumption. All customers are shown a whole of market comparison before the switch. There is no obligation to take the deal.
- The deal closes at midnight on Friday 20 February 2015 and is only available to 10,000 people.
- The next cheapest tariff was from EDF in November 2010 priced at £867 per year according to Cornwall Energy.
About The Big Deal
The Big Deal is a consumer collective focused on reducing
people's energy bills. We bring together tens of thousands of
consumers and use our collective buying power to create
market-leading exclusive deals. We also cut our commission way
below industry average to ensure the cheapest possible tariff for
Launched in March 2014, it now has over 45,000 members and continues to grow. 62% of our members have never or hardly ever switched before - these are the very people who have been let down by the energy market. Moreover, 60% of our members are over the age of 55 and 30% over the age of 65.
Our policy has been to cut the commission we receive in order to get the best deal for our members. The deals we create are cheaper than anything on comparison sites. Our collective switch in October 2014 saved the British public £1.5 million, with an average saving of £303 per household (higher than any other collective switch). 10% of our switchers saved over £475.
The Big Deal charges a commission to energy companies but unlike price comparison sites is entirely transparent about exactly how much. For this switch it is charging £12.50 per fuel - £25 for a dual fuel switcher. This compares to £80 to £100 for a dual fuel switcher that it has been reported the Big Five price comparison sites charge.
About First Utility
(www.first-utility.com) First Utility is the UK's fastest growing and largest independent energy supplier. It supplies gas and electricity to more than 700,000 customers throughout the UK and is committed to helping them reduce their energy bills by offering cheaper tariffs, helping customers use less energy through the use of innovative technology and campaigning for industry change.