"Hitting the 1m milestone is hugely significant and proves how much of a shake-up was necessary" Ian McCaig, CEO First Utility
London, UK (PRWEB UK) 29 September 2014
The significant milestone follows consistently high growth, which has seen a ten-fold increase in customer numbers in less than three years. The company now serves more than 550,000 customers, most with both gas and electricity, equalling more than 1m accounts.
First Utility’s growth as one of the cheapest gas and electricity suppliers means it now accounts for over 2% of the residential energy market, while the Big Six’s share has reduced from more than 99% in 2011 to 92% currently*. It is First Utility that is at the vanguard of this dramatic change.
The company’s growth has been led by its cheap utility tariffs. Since 2008, First Utility has saved its customers over a collective £100m by continuously offering low electricity and gas prices.
First Utility has been the cheapest gas and electricity supplier on the market for 23 out of 35 weeks during 2014 - with current savings of £213 a year. Its unique Price Promise also ensures its iSave Everday standard variable tariff will always be cheaper than the Big Six standard tariffs at typical usage**.
It has been First Utility’s strategic partnership with Shell that has put it in such a strong position to grow. Shell’s scale and expertise means First Utility can competitively source gas and electricity and these savings can be passed onto its customers.
First Utility also recently invested more than £10m in a commitment to deliver best in class customer service, by listening to First Utility reviews. The supplier has made a promise to continuously improve and will continue to invest as it strives to offer customers a great level of customer service alongside low prices.
Ian McCaig, CEO, First Utility, says:
“Hitting the 1m milestone is hugely significant and proves how much of a shake-up was necessary in the market. We have been at the forefront of bringing lower energy prices and better value for the UK consumer and have consistently campaigned for a fairer more transparent UK energy industry. Halving switching time was a great achievement, but much more needs be done and now.
The Rt. Hon. Ed Davey MP, Secretary of State for Energy and Climate Change, says:
“Reaching one million customer accounts is a fantastic milestone for First Utility. With over two million customers now signed up to independent suppliers overall it’s clear that households increasingly trust them and are benefitting from competition in the market.”
Steve Weller, CEO at uSwitch.com, says:
“This is a great achievement by First Utility as more and more people are voting with their feet and switching away from the big six to newer providers, in pursuit of lower prices and better service. Today’s news is a vote of confidence to new entrants, and provides a much-needed wakeup call to the big six – if they want to hold on to their customers, they need to raise their game. Smaller suppliers are representing a real threat and are here to stay.”
Read more about our 1m milestone and learn about our new 1% profit pledge here.
About First Utility
First Utility is the UK’s fastest growing and largest independent energy supplier. It supplies gas and electricity to more than 550,000 customers throughout the UK and is committed to helping them reduce their energy bills by offering some of the cheapest utility tariffs, helping customers use less energy through the use of innovative technology and campaigning for industry change.
First Utility formed a trading partnership with Shell Energy Europe Ltd (Shell) in December 2013. Under the terms of the agreement, Shell will act as intermediary for First Utility, to competitively source gas and electricity from the wholesale market.
*Latest figures including published data compiled by independent strategic energy market intelligence organisation Cornwall Energy (http://www.cornwallenergy.com)