A businessman from Plymouth is set to launch his own utilities company to take on the big six energy providers in the UK, it has been reported.
Chris Dawson, an entrepreneur, has unveiled the new internet-based energy provider The Range, which he told the Plymouth Herald will update its prices "far faster and more often" than other suppliers.
He claims because his firm will buy "massive blocks of gas and electricity", then prices will be able to be altered "extremely quickly".
Mr Dawson said the Range will buy the energy on the open market "as cheaply as possible" and the firm's system will use "sophisticated software" to change gas and electricity prices automatically.
"We tested it on 100 people and 100 bills were reduced," stated the entrepreneur.
British Gas recently pledged to lower its energy prices over the coming month, with a new tariff to reduce gas and electricity prices by at least ten per cent below current standard rates, the Times reported.
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