Utility Warehouse launched two fixed energy tariffs on 29 February 2024, both priced below the January price cap and, the company says, below the April price cap. The tariffs became available from 9am that day to new and existing customers1.
The cheaper of the two, Fixed Saver 15, is a three-service tariff priced at £1,540 a year for a typical household. Utility Warehouse says this is 20 per cent below the current price cap, a saving of £388 against the January cap and £150 against the April cap. It is available to customers who take energy and switch at least two existing services, from broadband, mobile or insurance, to the company1.
The second tariff, Fixed 15, is for customers taking energy plus one other Utility Warehouse service. It is priced at £1,590 for the year, which the company says is nearly 18 per cent below the current price cap, a saving of £338, and £100 less than the April price cap1. Both tariffs fix bills until April 20251.
| Tariff | Services required | Annual price | Saving vs January cap | Saving vs April cap |
|---|---|---|---|---|
| Fixed Saver 15 | Energy plus two other UW services | £1,540 | £388 | £150 |
| Fixed 15 | Energy plus one other UW service | £1,590 | £338 | £100 |
Customers who sign up through a Utility Warehouse Partner are eligible for a further £50 saving on their utility bill, the company says1.
"By signing up to our new market leading Fixed Saver 15 tariff, customers can make significant savings and lock in their energy bills for the next 12 months. Not only is this tariff well below the current price cap, it's also cheaper than the new price cap in April, giving customers price certainly well into 2025."
Utility Warehouse says it has more than 950,000 households taking more than 3 million services, and that more than 62,500 additional households switched to it between April and September 20231. It also cites a 75 per cent overall score in Which?'s annual energy firm rankings in January, ahead of 17 other suppliers1.
Why it matters for households
A fixed tariff sets the unit rates and standing charges a household pays for the length of the contract, so the bill does not move with the price cap. That gives certainty over the term, but it also means a household pays above the cap if wholesale prices fall and the cap drops below the fixed rate. The comparison that matters is between the fixed price and what the cap is expected to do over the same period, which is the subject of fixed tariff vs staying on the price cap.
The two Utility Warehouse tariffs are not priced the same way. The lower price depends on bundling: taking energy plus two other services, or energy plus one. For a household that already buys broadband, mobile or insurance elsewhere, the comparison is between the total cost of the bundle and the cost of buying those services separately. The energy price alone does not settle it. The structure of these deals is set out in Utility Warehouse tariffs and bundled energy deals.
Both tariffs run to April 2025, so they cover the April 2024 cap change and the following winter. What is fixed and what is not, including exit fees and any changes to standing charges, is covered in fixed-rate energy tariffs.
What happens next
The tariffs were available from 9am on 29 February 20241. Utility Warehouse has not reported a closing date for either tariff, and no end date has been reported.