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The October price cap now expected to pass £3,000 a year

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14 July 2022 - Cornwall Insight – one of the leading experts on the energy market – has again revised its forecast for where the Government will set the October price cap. They now expect the maximum cost energy suppliers are allowed to charge the typical customer to hit an eye-watering £3,244 a year.

As most suppliers set their prices at the price cap, it’s piling more financial pressure on consumers who are already facing a cost-of-living crisis. And further increases are expected soon after in January.

Utility Warehouse (UW), the UK’s only multiservice supplier, is committed to offering variable energy prices up to 5% below the price cap. However, variable prices can change as the cost of the energy that suppliers buy goes up and down – and at the moment, they’re very likely to go up.

So we’re offering customers a chance to beat the price cap – and fix your energy prices until the end of July 2023.

Our new fixed price energy tariff, available when you take energy plus two or three other services, will cost £2,850 a year for the typical customer, or £2,450 including the £400 rebate from the Government.

That’s a saving of £394 a year against the expected Price Cap figure in October. 

Here’s how it compares

And that’s not all. As UW spreads its costs across a number of essential household services, it’s not just your energy you could save money on. 

UW customers can take advantage of great broadband, mobile and insurance deals:

  • Broadband prices start at £21.60/month for new multiservice customers (includes 10% discount for taking broadband and mobile)

  • Mobile deals start at £12 a month for 5GB of data, unlimited texts and calls, and £18 for unlimited data

  • Boiler and home cover is an £18/month flat price for new customers and is 5* Defaqto rated. 


UW multiservice customers can also take the UW Cashback Card, which offers up to 10% cashback on purchases at UW retail partners and customers who take out at least two services from UW also qualify for 1% cashback when they use the card at other retailers, with the money coming directly off their monthly utility bill.

You can find more information on our prices on our pricing page.

 

The legal bit

5% discount applies to customers who switch their energy plus 2 or 3 other services (broadband, mobile and/or insurance - Bill Protector excluded. Boiler & Home Cover also excluded for tenants). Lower discounts will be applied to customers taking just energy, or energy plus one other service. Discounts only apply to customers on a variable energy tariff paying by Direct Debit with a credit meter and are calculated at a flat rate using the typical domestic consumption (as set by Ofgem) compared to the Government’s energy price cap level for default energy tariffs. % discount could be higher or lower depending on actual consumption. See terms for more details. 

Prices and comparisons have been calculated based on typical household consumption of 2,900 kWh general domestic electricity and 12,000 kWh gas across all 14 regions and paying by Direct Debit. Bill Protector and Cashback Card not included as part of the two or three other services. 

See Cornwall Insight’s website for their forecast information: https://www.cornwall-insight.com and here for the recent update on the October Price Cap forecast.

Full Cashback Card terms and conditions can be found on our website.

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