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Eversmart Energy has launched a fixed tariff, which it claims is the cheapest on the market.
The “She’s Electric” tariff has an average cost of £888 per year for Eversmart’s 100 per cent renewable electricity, which the company said beats other deals by more than £40 at the time of launch (25 April).
It says the tariff is more than £360 cheaper per year compared to the average big six tariff – priced at £1,248.
Eversmart Energy chief executive Barney Cook said: “We pride ourselves on being able to competitively price our tariffs whilst still offering great customer service.
“The smart metering rollout has helped to massively drop operational costs within the business, allowing us to pass on the benefits to our customers.
“The world of marketing has changed dramatically with the rise of social media. Our best marketers are our own customers. By providing the cheapest energy with great customer service, our products effectively market themselves.
“Avoiding commercial relationships with price comparison sites also means we can pass on further savings to our customers.”
In April, Ofgem’s revised price cap came into effect, which saw a number of suppliers raise their prices, including all of the big six.
The latest switching figures have shown further momentum for the growing movement of customers from larger suppliers to small and medium sized ones.
Last month, Eversmart revealed it had paid all of its remaining Renewables Obligation payments after it failed to meet the original and extended deadline last year.
In January this year, the company pulled a controversial tariff from the market that required customers to pay for a year’s worth of energy up front.
Following feedback from industry stakeholders, Eversmart decided to temporarily stop offering the Family Saver Club tariff which was launched in October 2018.
The company said existing customers would be left on the tariff unless they chose to switch.
Eversmart launched in August 2016 and now has nearly 40,000 customers. The company’s growth strategy has a goal of 500,000 customers in two years, which it plans to achieve through the introduction of a referral scheme.
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