Extra Energy launches new domestic tariff priced below £1,000

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Extra Energy has become the latest small energy supplier to launch a domestic energy tariff priced at under £1,000.

Its ValuePlus Fixed Price September 2014 v1 tariff is reportedly set to cost even less than the tariffs offered by Ovo Energy and First Utility - at £990 a year.

Commentators have said that the new tariff will be around £275 cheaper than the average standard plan currently available to customers paying either by cheque or by cash.

Smaller energy companies with less than 100,000 customers aren't required to pay Government fuel poverty and insulation schemes - a factor that has enabled many of them to offer considerably cheaper tariffs.

Bristol-based Ovo Energy became the first small supplier to launch a  sub-£1,000 tariff back in early April (2014) with its fixed price Better and Green deal. It was designed to cost a dual-fuel user, on average, around £998 per year.

First Utility quickly followed with its iSave Fixed July 2015 (v20) plan, which costs around £992 a year.

Still a relative newcomer to the UK supply market, Extra Energy was launched in earlier this year. It's the sister company of  German energy supplier, Extra Energie. Extra Energie currently supplies gas and electricity to one million domestic and business customers around the country.

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