Utility Point Customers Transferred to EDF : What should customers do?

Notice

Utility Point has unfortunately gone bust and as a result, is no longer trading. The supplier defaulted as a result of financial stress resulting from the ongoing energy crisis in the UK. Fortunately though there will be no interruption in your energy supply as Ofgem has appointed EDF to be the new supplier for all Utility Point customers.
Last updated: November 2022

While your energy supplier going bust can sound very worrying it is actually a pretty common occurrence in the UK energy market, particularly now that the UK is in the midst of an energy crisis. As a result, we are very familiar with this process and know all the steps that you will need to take in order to ensure you are satisfied with your energy supply. To familiarise yourself with this process check out our main page on Utility Point which details the steps you should take as your energy supply is transferred to EDF.

Utility Point Tariffs and Prices

Utility Point’s website claimed that it was a supplier that “rewards efficiency and loyalty”. A refreshing ethos, in an era where loyalty to an energy supplier is usually more costly than switching regularly. But did Utility Point’s tariffs actually reflect this ethos, or was it just the kind of marketing bluster that energy consumers have heard so many times before?

The brand offered impressive incentives for referrals, whereby both the referring customer and the referee got £100 credit on their energy account. What’s more, the brand had a rewards scheme, that allowed Utility Point customers to earn points that could be redeemed with a number of partners including Sainsbury’s, Apple, Superdry, Nike and more.

Still, if the tariffs themselves didn’t represent value for money, confections like those rarely are enough to merit a switch on their own. So, just how did Utility Point’s tariffs measure up against the competition?

Let’s take a closer look!

Utility Point tariffs compared: Which was its cheapest tariff?

In the table below, you’ll see Utility Points tariffs compared below so that we can see which is the cheapest tariff that they offered.


Plan Tariff type Average Electricity annual cost (£/year) Average gas annual cost (£/year) Average total annual cost (£/year)
Just Join Up 21 12M Fixed £ 588.24* £ 471.43* £ 1,104.95*
Just Join Up 21 18M Fixed £ 609.75* £ 495.20* £ 1,059.68*
Just Join Up 21 24M Fixed £708.94* £548.29* £1,257.23*

* Prices vary from one city to another, so we display national averages
* Based on 2,900.00 kWh of ⚡ and 12,000.00 kWh of 🔥 per year on average
Econ 7 Plan Standing Charge and Unit Rates were calculated based on 2436 kWh of electricity consumption during the (day), and 1764 kWh of electricity (night)
Exit fees are £30 for each plan, excluding VAT which is applied at 20%..


As we can see, all of Utility Point’s fixed rate tariffs were very comfortably below the Ofgem Energy Price cap. As of October 2020, this stood at £1,042 per year for both fuels. The cheapest that it has ever been since it was introduced in January 2019.

However, if you don’t mind the seasonal weighting of your payments, the slightly reduced unit rates and standing charges of the Just Join UP 12M Fixed Wk46 Up & Save Winter version made it the cheapest option. It was just a case of whether your budget and cash flow would allow your energy payments to be higher during the winter months. If not, the regular version of this 12 month fixed rate tariff was still very good value for money.

Utility Point standard tariff

Most energy suppliers have a standard or default variable tariff available to new customers. These are good for customers who want more freedom. Prices rise and fall in line with the cost of wholesale energy. And while wholesale energy prices are fairly cheap at the time of writing, these are usually more expensive than fixed rate tariffs.

As noted earlier, all of Utility Point’s plans are fixed.


Plan Tariff Type Type of Fuel Standing Charge (p/day) Unit Rate Cost (p/kWh) Average Total Annual Cost (£/year) Exit Cost (£)
Just Join Up 21 12M Fixed Electricity 24.25 p* 17.23 p* £ 588.24** £ 30.000
Just Join Up 21 12M Fixed Gas 19.01 p* 3.35 p* £ 471.43** £ 30.00
Just Join Up 21 18M 18 months fixed plan Electricity 24.50 p* 17.94 p* £ 609.75** £ 30.000
Just Join Up 21 18M 18 months fixed plan Gas 18.29 p* 3.57 p* £ 495.20** £ 30.00
Just Join Up 21 24M 24 months fixed plan Electricity 26.33 p* 21.13 p* £ 708.94** £ 30.000
Just Join Up 21 24M 24 months fixed plan Gas 24.94 p* 3.81 p* £ 548.29** £ 30.00

* Prices vary from one city to another, so we display national averages
** Based on 2,900.00 kWh of ⚡ and 12,000.00 kWh of 🔥 per year on average
Including 5% of VAT.
Econ 7 Plan Standing Charge and Unit Rates were calculated based on 2436 kWh of electricity consumption during the (day), and 1764 kWh of electricity (night)
Exit fees are £30 for each plan, excluding VAT which is applied at 20%..


Utility Point variable rate tariffs

Utility Point did not offer a variable tariff in their standard plans, it was only an option for one of their Econ 7 plans – Co-op Flexible – that we will touch upon later in the article. Utility Point had a fairly impressive range of fixed rate tariffs. These are listed in detail above. All the tariffs listed below have online account management only, allowing the brand to offer more competitive pricing. When the fixed tariff expires, you are automatically moved onto the tariff that best suits your needs and usage. So there’s no need for a costly standard tariff.

All unit rates and standing charges are accurate at the time of writing and include VAT. Unit rates are based on UK averages. Your rates may vary depending on where in the country you live. Estimated monthly and annual costs are based on the national average energy consumption of 2,900 kWh of electricity and 12,000 kWh of gas per year. Again, your costs may vary depending on your usage.

Utility Point Economy 7 tariff

Although all of the above tariffs are available for customers with dual rate meters. The only option for a variable rate tariff was with Utility Point’s Co-op Flexible Plan.

Below is a table that includes Utility Point’s Econ 7 Plans.


Plan Tariff type Average Electricity annual cost (£/year) Average gas annual cost (£/year) Average total annual cost (£/year)
Co-op 12M Fixed (Econ 7) Fixed £ 609.746* £ 471.43* £ 1,083.45*
Co-op Community Power (Econ 7) Fixed £ 609.746* £ 495.20* £ 1,081.18*
Co-op Flexible (Econ 7) Variable £609.746* £548.29* £1,257.23*

Utility Point prepayment tariffs

Unfortunately, Utility Point did not currently offer tariffs for customers with prepayment meters at the time of writing. At present their website states:

“Unfortunately, we don’t support prepayment meters at this time, so if you have this type of meter, you won’t be able to switch to us. However, you can request a change of meter type from your current energy supplier, after which you would be able to switch.”

This would seem to imply that the brand did not consider prepayment meters a priority.

 

utility point tariffs

Utility Point business tariffs

As a smaller supplier, Utility Point did not offer tariffs for business customers. However, as the brand grows, it may offer these in the future.

Utility Point price changes in 2020

Utility Point had not announced any price changes in 2020. However, given that their tariffs all fall comfortably below the Ofgem Energy Price Cap, this is not all that surprising. Suppliers often drop their prices in line with the energy price cap when it is changed in April and October of every year.

Get a Utility Point energy quote today

If you think Utility Point’s tariffs would be a good fit for your home, don’t make the switch without getting in touch with us. We can compare tariffs with your needs and usage to ensure that you’re getting the perfect fit for your household.

We can even manage your switch from end-to-end, bringing you cheaper, greener energy faster.

Would you like to know more about Utility Point? Great! Check out our article on Utility Point reviews.

Looking to compare energy suppliers?
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FAQ

Did Utility Point do Warm Home Discount?

Utility Point is not currently part of the government’s Warm Home Discount scheme. If you want to use the scheme to help lower the cost of heating your home during the winter months, you’ll need to switch to another supplier.

What is the Utility Point login?

You can log in to your Utility Point account via their online portal. You can also access it via their website that is easy to use and easy to navigate, so finding the right section should be easy. As the company didn’t yet have an app, this is the best way of managing your bills, usage and meter readings.

Is Utility Point a good energy supplier?

With just a couple of years under its belt, Utility Point is still a fairly young company. This means it’s hard to get a good idea of its services, its approach and its value for money. At the moment, reviews of Utility Point are pretty good. It seems to be comparable with similar-sized suppliers and had big ambitions to improve its services over the coming years.

What is the Utility Point reward scheme?

When you sign up to a Utility Point tariff, you’ll get access to the company’s reward scheme. The Utility Point reward scheme gives customers access to discounts and special offers at a range of high street and online retailers. Participating shops include: Wilko, Asda, Halfords, Boots, Argos and Debenhams.

Updated on 29 Jan, 2024

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