![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/new-energy-supplier-launches-for-the-first-time-in-years-and-you-could-save-over-70-but-theres-a-major-catch/&media=https://uknews.evprotec.com/wp-content/uploads/2023/07/flames-seen-burner-gas-stove-768935723-2.jpg&description=LIGHTS ON New energy supplier launches for the first time in years and you could save over £70 – but there's a major catch A NEW energy supplier has entered the market for the first time in over 18 months after dozens of providers went bust. Fuse Energy, founded by two ex-employees of the banking app Revolut, is offering customers a brand-new electricity tariff. 1 Customers looking for an electricity-only deal can save over £70 a year with Fuse Energy's new tariff Credit: Avalon.red The deal would cost the average household £989.35 a year thanks to a low standing charge. It would mean that a typical customer who opts to switch their electricity bills from another provider would pay £77.18 less per year. But remember, the exact amount you'll save will depend on how much energy you use as a household. However, there's a major catch to Fuse Energy's offering. Notably, new customers need to download the supplier's app on the App Store or Google Play. And if you still rely on gas to heat your home and fuel cooking appliances you'll also need to take on a gas-only tariff with another supplier. Kara Gammell personal finance expert at MoneySuperMarket said: "The energy market has been hibernating for over 18 months, so it's a sign of hope on the horizon as consumers are starting to be provided with more options. "This new offering from Fuse Energy could save you a considerable amount on your electricity over the term compared to today's energy prices. "But, when considering any kind of tariff, take a moment to think about if it's right for you." Under Ofgem's July price cap, a typical household on a supplier's default gas and electricity tariff pays no more than £2,074 a year. Right now, 29million customers on the standard variable tariff (SVT) pay roughly 30.1p per kilowatt hour (kWh) for electricity and 7.5p per kWh for gas. A standing charge of 52.97p for electricity per day and 29.11p for gas per day is also applicable. The standing charge is added to most gas and elect){kind=link}
A NEW energy supplier has entered the market for the first time in over 18 months after dozens of providers went bust.
Fuse Energy, founded by two ex-employees of the banking app Revolut, is offering customers a brand-new electricity tariff.
The deal would cost the average household £989.35 a year thanks to a low standing charge.
It would mean that a typical customer who opts to switch their electricity bills from another provider would pay £77.18 less per year.
But remember, the exact amount you’ll save will depend on how much energy you use as a household.