Utility Point Tariffs 2020: Compare Prices and Switch

Papernest disclaims that they are not in partnership with Utility Point

Papernest disclaims that they are not in partnership with Utility Point

Utility Point may not be the best known energy supplier on the market, but since the brand was established in 2017, this small supplier has made quite an impression. With a flexible and robust range of tariffs, “award-winning” customer service, and 100% renewable energy at no extra cost, it’s easy to see why their Trustpilot Page has so many reviews from happy customers.

Last updated: February 2021

While renewability and great customer service are definitely important, most of us choose energy suppliers based on cost. So, how do Utility Point tariffs measure up against the competition?

Utility Point Tariffs and Prices

Utility Point’s website claims that it is 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 do Utility Point’s tariffs actually reflect this ethos, or is it just the kind of marketing bluster that energy consumers have heard so many times before?

The brand offers impressive incentives for referrals, whereby both the referring customer and the referee get £100 credit on their energy account. What’s more, the brand has a rewards scheme on the way, that will allow Utility Point customers to earn points that can be redeemed with a number of partners including Sainsbury’s, Apple, Superdry, Nike and more.

utility point tariffs

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

Let’s take a closer loo

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.

Curiously, however, Utility Point offers no standard or variable tariff to new customers. There are none advertised on the website’s tariffs page, and we were not offered one when we got a quote.

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Utility Point variable rate tariffs

Utility Point has a fairly impressive range of fixed rate tariffs. These are listed in detail below. 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.

Just Join UP 12M Fixed Wk46

This is a 12 month fixed rate tariff that has an online account management discount of £15 per fuel.

Energy Cost Price
Electricity unit rate 13.9209p per kWh
Electricity standing charge 23.07p per day
Gas unit rate 2.3193p per kWh
Gas standing charge 23.77p per day
  • Estimated monthly costs: £71.09
  • Estimated annual costs: £853.08
  • Early exit fee: £30 plus 20% VAT per fuel

Just Join UP 12M Fixed Wk46 Up & Save Winter version

This is ostensibly the same as the tariff mentioned above, but has the potential to be cheaper. Monthly payments are adjusted for the time of year to prevent your account from falling into debit during the winter months when your usage is likely to be higher.

Rates and charges are listed below:

Energy Cost Price
Electricity unit rate 13.2271p per kWh
Electricity standing charge 22.34p per day
Gas unit rate 2.1935p per kWh
Gas standing charge 21.67p per day
  • Estimated monthly costs: £45.09 June – November, £89.50 December – May
  • Estimated annual costs: £807.54
  • Early exit fee: £30 plus 20% VAT per fuel

Just Join UP 24M Fixed Wk46

This is Utility Point’s 24 month fixed rate tariff. Unit rates are slightly higher, but customers are insulated from rising energy costs. Because many are unsure of the economic fallout of Brexit and its effects on wholesale energy costs, this may be a goof option for those who want to keep their energy costs predictable for the next couple of years. Especially since these unit rates and standing charges are very reasonable among 24 month fixed tariffs. It also comes with an online account management discount of £15 per fuel.

Rates and charges are as follows:

Energy Cost Price
Electricity unit rate 15.9889p per kWh
Electricity standing charge 23.07p per day
Gas unit rate 2.8193p per kWh
Gas standing charge 23.77p per day
  • Estimated monthly costs: £81.09
  • Estimated annual costs: £973.08
  • Early exit fee: £30 plus 20% VAT per fuel

Utility Point prepayment tariffs

Unfortunately, Utility Point does 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 does not currently consider prepayment meters a priority.

 

utility point tariffs

Utility Point Economy 7 tariff

Although all of the above tariffs are available for customers with dual rate meters, when we tried to get a quote, the quotes returned did not list peak and off-peak electricity unit rates.

Utility Point tariffs compared: Which is the 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 offer.

Tariff Name Estimated Monthly Cost Estimated Annual Cost
Just Join UP 12M Fixed Wk46 £71.09 £853.08
Just Join UP 12M Fixed Wk46 U&S Winter £ 45.09 / £89.50 £807.54
Just Join UP 24M Fixed Wk46 £81.09 £973.08

As we can see, all of Utility Point’s fixed rate tariffs are very comfortably below the Ofgem Energy Price cap. As of October 2020, this stands 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 make it the cheapest option. It’s just a case of whether your budget and cash flow will allow your energy payments to be higher during the winter months. If not, the regular version of this 12 month fixed rate tariff is still very good value for money.

Utility Point business tariffs

As a smaller supplier, Utility Point does not currently 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 have 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.

Call us to switch your energy
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Written by Baylee

Updated on 24 Feb, 2021