Brits wary of rising household costs next year as one in three plan to cut back on Christmas spending to pay bills

New research from Utility Warehouse comes as multiservice supplier offers UK’s cheapest fixed energy tariff when customers also take two other services

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14th December 2023: Almost a third of Brits (29%) plan to cut back on Christmas spending so they can pay their household bills, according to new research from Utility Warehouse.

As cost-of-living pressures continue to impact budgets, around three quarters (73%) of us remain concerned about household costs next year. However, almost one in five households could be missing out on vital savings as they have not switched their energy provider in over three years, while 15% have never changed in their lifetime -  despite the availability of cheaper deals. 

The research comes as Utility Warehouse (UW) today launches a new fixed energy tariff, offering customers the chance to fix their energy rates at £113 below the January price cap. The multiservice supplier is offering a three service Fixed Saver 11 tariff, priced at £1,815 until December 31st 2024 - giving customers peace of mind for all of 2024. This tariff is currently the cheapest fixed energy rate tariff in the market. 

Customers can fix until January 2025 when they take energy and switch at least two of their existing mobile, broadband, or insurance services to UW. New customers who sign up via a UW Partner to a UW bundle are also eligible for a further £50 saving on their UW utility bill. 

And customers who want to take energy plus just one other market-leading service from UW can do so with UW’s two service Fixed 11 tariff. This enables customers to freeze their energy rates at £1,900 - a saving of £28 against the January price cap - giving customers price certainty for the next 12 months.

Stuart Burnett, Co-CEO at Utility Warehouse, said: “Anyone who is worried about how much they’re spending on their energy bills over Christmas and in the New Year should look closely at what they’re paying to see if they can make vital savings by switching to a better value supplier. With our new fixed rates, customers can take advantage of peace of mind on their energy bills for the next 12 months and with our three service fixed tariff access a substantial £113 saving against the price cap from January.”

More than 62,500 additional households switched to UW in the first 6 months of FY24, representing an annualised growth rate of over 14%. With 950,000 households taking 3 million services from UW, the business is expected to pass the one million customer milestone during the current financial year.

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