04 August 2022 - One of the leading energy market experts, Cornwall Insights, latest forecast suggests that the October price cap is set to rise even further than anticipated. The latest forecast shows that the October price cap could rise by 70%, to around £3,359 per year on typical bills. Perhaps more worryingly, the next quarter’s price cap rise could take bills to around £3,615 in January.
With the cost-of-living rising in other areas as well, this price cap rise will mean more financial pressure on consumers when their budgets are already being squeezed massively.
With most energy suppliers only able to offer prices at the price cap, Utility Warehouse (UW), the UK’s only multiservice supplier, is committed to offering variable energy prices up to 5% below the price cap. But we’re also going beyond that by providing customers with the opportunity to beat future price cap increases by fixing their energy.
UW customers, who take two or three other services, will be able to fix their energy at a cost of £2,950 a year for the average customer - until 31st August 2023. This represents a £408 saving against the price cap and including the universal £400 rebate from the government, this is effectively an £808 saving against the impending price cap.
And UW multiservice customers - new and existing - can supercharge their savings with the UW Cashback Card. The prepaid debit card offers customers up to 10% cashback on purchases at participating UW retail partners. Customers who take two services or more can also qualify for 1% cashback everywhere they spend, with the money earnt coming directly off their monthly utility bill.
And the savings don’t stop there. As well as accessing a saving on energy and with the Cashback Card, customers will also be able to take advantage of savings elsewhere. As UW spreads its cost over a number of essential household services, our customers can take advantage of great broadband, mobile, and insurance deals. Such as:
Superfast broadband prices starting at just £21.60 for new multiservice customers - including a 10% discount for taking both broadband and mobile
Great value mobile SIMs starting at £12 a month for 5GB of data, with unlimited texts and calls or just £18 for unlimited data, texts, and calls.
5* Defaqto rated boiler and home cover for just £18 a month.
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 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.
Customers can earn unlimited cashback from our participating retailers each month. Purchases from other retailers are eligible for cashback of 1% on spends up to £1,000 per month. Only customers not engaged in debt collection proceedings with UW – and with at least two of the following services active at the time of billing: landline, broadband, gas and electricity – are eligible to receive the 1% cashback. Full Cashback Card terms and conditions can be found on our website.
Registered in England. Company number: 04594421 Utility Warehouse Limited is authorised and regulated by the Financial Conduct Authority.
The UW Cashback Card is issued by PSI-Pay Ltd pursuant to a license by Mastercard® International Incorporated. PSI-Pay Ltd is regulated by the Financial Conduct Authority (FCA) under the ElectronicMoney Regulations 2011 (FCA register number 900011) for the issuing of electronic money. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.