What's going on in the energy market

UW's energy price comparison
Latest update: July 2021

The problem comparing
energy prices

Wholesale prices – the prices suppliers like UW pay to buy energy – have been rising throughout the year. In 2020, wholesale prices were extremely low due to global lockdowns.

But as restrictions have eased, demand for energy has risen. In fact, wholesale prices have increased by up to 30% since last March.

Trying to compare energy prices can be tricky. That's because if someone signed up to a Fixed energy tariff a year ago, they’ll still be paying much less than any of the tariffs available today. For those people (about 25% of UK households) they won’t save money by switching to UW at the moment – or any supplier for that matter. However, when their Fixed tariff ends, they'll face a big hike in costs – which is where UW can help. 

There are also a lot of households on Standard Variable tariffs (SVTs). These tariffs are typically priced at the highest amount permitted by Ofgem, the energy regulator. Anyone on an SVT would have got a price rise in April this year, and can expect another one in October as wholesale prices are still increasing. UW can help these people, too.

We keep our prices as low as possible, and if you switch all your home services to UW, you'll always pay less than the Ofgem Fair Price Cap. This means we can save you money whether you’re on our Fixed or Variable tariff.

You can see how our latest energy tariffs compare below, plus what these tariffs could mean for different people depending on their current energy deal:

Committed to providing you
fair prices

How we compare

The legal bit

*Source: Energy Linx
Based on a typical annual consumption of 2,900 kWh electricity and 12,000 kWh gas across all 14 regions.

***Terms and conditions apply. Find out more here

What this could mean for you or people you know

Steve lives with his wife and two children in Manchester

Steve has been with British Gas for over 10 years on their Standard Variable tariff. 

If Steve switches his energy to UW, he’d definitely save money – even on UW’s most expensive tariff. 

And if he chooses our Fixed tariff, he’d save over 10% on his energy bill compared to the cheapest Fixed tariff currently available with British Gas.

Fiona lives with her boyfriend in Bristol

Fiona is currently on a Fixed tariff with E.ON, which started in September 2020.

Right now, if Fiona switches to UW, we’d probably be more expensive for her as energy costs were cheaper last year. 

But if Fiona decides to switch to UW in September 2021 once her current deal ends, then she’d save money on her energy bill.

Paul lives with two flatmates in East London

Paul joined Bulb a couple of years ago.

While Paul has generally been happy with Bulb up until recently, they’ve announced two price rises this year alone. 

If Paul decided to switch to UW now, he’d definitely save money on his energy bill too.

Sian lives on her own in Devon

Sian switches her energy every year and chooses the cheapest deal she can find on a price comparison website. 

If Sian switched just her energy to UW then she wouldn’t save on her bills. 

However, if she switches all her home services (energy, mobile and broadband) to UW, then she’d save lots of time not having to deal with multiple providers – because we bundle everything onto one, simple, monthly bill. And she’d get a discount on her broadband, too.

We have the right tariff for you

Maybe you want the peace of mind of knowing what you’re going to pay over the next 12 months with our Fixed tariff, and want to protect against the further price increases that are expected in October.

Or perhaps you want to pay less today by choosing our Variable tariff.

Either way, they both offer great value and are extremely competitive compared to other suppliers.

Helping more customers go green

In addition to our great value tariffs, every customer who switches their energy, broadband and mobile to UW – whether on a Fixed or a Variable tariff – will also benefit from 100% renewable electricity.

What’s more, we’ll plant a tree in your name in the UW Woodland in the Brecon Beacons, where we’ve already planted well over 100,000 trees.

And if you decide to take a free smart meter, we’ll give you an extra £50**.

FAQs

Why are energy costs changing?

Wholesale energy costs vary throughout the year. When this happens, we need to update our tariffs if there are any significant changes. In 2020, wholesale prices were extremely low due to global lockdowns. But as restrictions have eased, demand for energy has risen, which has seen wholesale costs increase by up to 30% since last March.

Which tariff is the cheapest?

With our Green Fixed tariff, you get peace of mind that your prices won’t increase over the course of the next 12 months. Price increases to Variable tariffs are expected in October this year.

Is your Fixed tariff available to everyone?

This tariff is available to customers who switch over all their home services – energy, mobile, and broadband – to UW.  

By being on this tariff, prices will remain fixed, protecting you against potential increases over the next 12 months.

Why is your Fixed tariff more expensive?

Our Variable prices remain lower at the moment due to the way Ofgem’s (the industry regulator) price cap works. Prices on a Variable tariff can go up as well as down.

Right now, our Green Fixed tariff is about £4 a month* more expensive than the Variable tariffs. However, it guarantees no more price rises for 12 months because the price is fixed.

With industry experts predicting that the Ofgem Price Cap will rise significantly this October, being on a Fixed tariff protects customers against a further price increase later in the year.

The legal bit

*Source: Energy Linx
Based on a typical annual consumption of 2,900 kWh electricity and 12,000 kWh gas across all 14 regions. 

**Terms and conditions apply.