UK energy firm launches new 'cheapest tariff' in the market ahead of price cap rise

With the energy bill price cap set to rise in October, this will likely lead to steeper prices and increased tariffs for many as winter rolls in. However, a savvy deal from UK energy company Utility Warehouse is allowing consumers to beat the price hikes by securing one of the most affordable fixed energy tariffs on the market.

It comes as Ofgem has announced that the price cap will jump to £1,755 from October. This is a 2% increase on the current cap and applies to those who pay for electricity and gas by standard credit, direct debit, prepayment meter and Economy 7 meter, meaning most people will be hit by the addition.

But Utility Warehouse has a handy solution with its energy-only fixed tariff, where it's possible to save rather than spend more money, despite the energy cap hike. The utility provider has a wide range of services including energy, mobile, broadband and insurance, all of which can be monitored from a single account.

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Priced at £1715 for the year, Utility Warehouse's Fixed Start tariffis £40 less than the new price cap. This difference makes it one of the most affordable fixed energy tariffs available - though it's important to note that a smart meter is required, reports Wales Online.

For those on other tariffs who want to switch to Utility Warehouse, the brand is offering up to £400 towards early termination fees so consumers can reap the savings immediately.

Utility Warehouse isn't the only provider offering competitive deals on energy. According toBirmingham Live, Octopus Energy is "the only large supplier to price its standard tariff meaningfully below the Ofgem Energy Price Cap", a position it has maintained since the cap was introduced.

The company is backed by the Energy Switch Guarantee, ensuring a smooth and hassle-free switch.

Elsewhere, E.ON Next's Next Pledge tracker tariff also promises energy costs that will stay below the Ofgem price cap. If energy costs drop, so will the tariff, and there are no exit fees to worry about.

Utility Warehouse has received positive reviews on Trustpilot. One satisfied customer said: "It works with my budget and everything is to my understanding. Happy."

Another reviewer shared: "Following a quote from a price comparison site I contacted UW to inquire if they could match/better this quote and was delighted that it was bettered and price fixed for 12 months. It was a very positive experience."

A third added: "My experience with Utility Warehouse was great. Easy and quick to get quotes on the services I wanted. I would recommend them."

However, not all experiences were positive. One customer noted: "Had great trouble getting telephone connection but once connected all questions were answered quickly."

Another customer remarked: "Overall it's a great concept to have all our utilities under one roof, with bundles saving you more money. Have found it doesn't always save more compared to using separate companies, but the peace of mind and ease of use on the app make the difference worth it."

For further details on tariffs, visit the Utility Warehouse website or contact the local Utility Warehouse Partners.