The energy crisis deepened after industry regulator Ofgem warned that the maximum annual tariff consumers can be charged is expected to skyrocket by £830. This would mark a rise of more than £1,500 in 12 months and could force up to 12 million people into fuel poverty, according to Ofgem’s boss. But Utility Warehouse is offering up a solution that could save millions of households.
The company is offering consumers a fixed tariff of £2,250 that will stay fixed until the end of May 2023.
This could save customers switching to UW as their energy provider up to £550 during the cold winter months.
Customers would have to take on two other UW services – broadband, mobile or insurance, to qualify for the fixed tariff, which will not be subject to price hikes sparking soaring global energy costs.
Andrew Lindsay, Co-CEO said: “Enough is enough. As households across the country are struggling with the relentless increase in their cost of living, we get the bombshell that energy prices are going up by another £800 in October.
“UW can put an end to the misery and help households take control. We are all about bundling your essential services into one account – Energy, Broadband, Mobile and Insurance – and offering genuine value as a result.
“That’s why, right now households can fix their energy prices at £2250 when they take at least two other UW services, meaning complete price protection all the way through to the end of May 2023.”
This comes as the Government continues to come under fire from critics claiming it is not providing enough help to households as the energy crisis sends ripples through the nation.
Labour has led the charge with calls to implement a windfall tax on energy companies.
This would involve a tax on the sky-high profits that were made while many consumers were forced to choose between heating or eating.
The tax on these profits could then be used to give discounts to people struggling to pay their energy bills.
READ MORE: Energy crisis: British Gas to offer new lifeline to thousands
Those who have appeared to argue against it include Business Secretary Kwasi Kwarteng.
He told Sky News:” I’ve never been a supporter of windfall taxes.
“I have been very clear on that publicly, I think it discourages investment and the reason why we want to have investment is because it creates jobs, it creates wealth and it also gives us energy security.”
Chancellor Rishi Sunak has also raised the alarm over the potential threat to investment in new oil and gas extraction projects in the North Sea.
But the Chancellor has said that a windfall tax is “something that I would look at”.
The Government argues sites in this area could offer the UK a potential lifeline and let Britain access its own reserves instead of having to pay more for high-priced imports of fossil fuels that are subject to spiralling costs.
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Mr Kwarteng wrote in a letter to oil and gas companies: “In return for the UK government’s ongoing support for the sector, the Prime Minister, the Chancellor and I want to see a very clear plan from the oil and gas industry to reinvest profits in the North Sea and, importantly, in the clean energy technologies of the future.”
But now, it has been tipped that the Government could announce the windfall tax in the coming days as Prime Minister Boris Johnson scrambles to keep his head above water.
Not only are energy bills rising, but Mr Johnson will likely be eager to win back public support and soften the blow of the Partygate report published today (May 25).
This is the investigation by senior civil servant Sue Gray into the lockdown-breaking parties in Downing Street Mr Johnson held.
For damage limitation, The Telegraph reports that, in days, Mr Johnson will unveil a support package worth billions to alleviate the burden of rising bills for households.