Utility Warehouse is offering energy customers a flat rate of £550 below Ofgem’s price cap for October
Last week, Chancellor Rishi Sunak announced that the UK government would double the £200 ‘ready-not-ready’ energy bill to £400 which is due to be applied to all household electricity accounts from October and turned it into a grant, which means nobody needs to pay it back.
The additional support came following Ofgem predicting the October price cap is set to rise by another £800 to £2,800, potentially putting millions of households under even more pressure during the colder months of the EU. ‘year.
However, following the announcement, Utility Warehouse (UW) is now offering consumers a flat energy rate of £550 below the price cap set for October.
The company is offering multi-service customers – those who consume energy plus two of Utility Warehouse’s broadband, mobile and/or insurance services – the option to set their energy price at £2,250 until May 2023.
Including the UK government’s £400 rebate, this represents a cost reduction over the winter to an effective cost of £1,850 until May 2023.
Commenting on the new offering, Andrew Lindsay, co-CEO said: “Enough is enough. Consumers in the UK have been told now is not the right time to switch energy. This is simply not the case.
“We are uniquely positioned to offer households a fixed energy rate of £2,250 which, together with the UK Government’s £400 rebate, will help families save this winter. They can more than avoid the impact of the huge price hike coming in October and, in fact, see a reduction in their energy bills from the current price cap.
Just be aware that new multiservice customers may find that additional products or services have a longer contract term than the flat rate, so always check your options before making a decision.
How will the £400 energy discount work?
Energy suppliers will deliver this support to households with a domestic electricity meter over six months from October.
Customers with direct debit and credit will see the money credited to their account, while customers with prepaid meters will have the money applied to their meter or paid via a voucher – this will depend on whether they have a smart meter or nope.
who gets it
Households in Scotland, England and Wales – equivalent support will be provided to people in Northern Ireland.
This support comes on top of the £150 council tax rebate for households in AD brackets (and with a reduction in Scotland), which was announced in February and which millions of households have already received.
Read the full factsheet on the GOV.UK website here.
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