Utility Warehouse (UW) has announced the launch of what is described as the UK’s cheapest fixed price energy tariff, priced £100 below July’s price cap.

The new “Fixed Saver 1” tariff allows customers to secure their energy prices at an average cost of £1,974, offering savings compared to the anticipated £2,074 average household price set by the price cap.

To take advantage of this new tariff, customers are required to sign up for energy services along with at least two other services offered by UW, such as mobile, broadband or insurance.

By bundling three or more services when signing up with a UW Partner, customers can save an additional £150 on their bills, the company said.

Stuart Burnett, Co-CEO of Utility Warehouse, said: “As cost of living pressures continue to rise, this will give households peace of mind on their energy bills for the next 12 months.”