The recent energy crisis has brought a seven-year destructive price war to an end, signalling a new era of sustainable competition between suppliers, according to Utility Warehouse Co-CEO Andrew Lindsay.
In the companies Half-Yearly Report 2021, Lindsay said: “The price war has hit an abrupt end and the subsequent spate of energy supplier failures has demonstrated the inherent flaws in the regulator’s policy of competition at all costs.
“’Consumers now face a cost running into billions of pounds to tidy up the mess, so we welcome Ofgem’s commitment to prevent this situation from happening again.”
The report shows that UW’s energy customer base has grown by around 11 thousand alongside its mobile customer base which grown by four thousand. Meanwhile UW’s broadband base shrunk by eight thousand customers.
UW states this decline in broadband service numbers has been reversed in the second half due to its full fibre proposition.
Overall UW’s revenue swelled 6.3% from 349m to 371m.