Prince Harry’s childhood friend launches new company to slash cost of household bills

Prince Harry’s childhood friend Tom Inskip has launched a new company aimed at significantly reducing the cost of household bills for consumers. The business, named Alfred, is designed to offer a comprehensive package of services, including electricity, gas, broadband, mobile phone, and insurance, at wholesale prices, bypassing the usual retail markup applied by traditional providers. Inskip, who attended Eton alongside Prince Harry, plans to begin serving customers fully later this year after completing necessary regulatory steps. Alfred was established two years ago, during which time Inskip worked to secure partnerships with insurance and communications service providers, as well as obtaining an Ofgem licence. The company's model relies on a £195 annual membership fee, granting customers access to bundled services at reduced rates. Inskip claims that this approach allows households to avoid the constant need to search for better deals, as the company aims to ensure that customers pay the lowest possible prices once enrolled. Inskip, who was present at Prince Harry’s wedding to Meghan Markle, described the initiative as “the last switch you will ever have to make.” He explained that the pricing strategy is structured such that the more services customers use, whether in terms of energy consumption or additional offerings, the greater the potential savings. According to internal research, a household utilizing high levels of energy and mobile services could save up to £1,000 annually. The company also guarantees refunds or reimbursements for members who decide to leave the service if they are not achieving the promised savings. This policy reflects Inskip’s belief that the model aligns the interests of both the customer and the company, as the latter does not profit from increased spending. Instead, the focus is on long-term affordability, though Inskip acknowledged that competitors might occasionally offer temporary deals that undercut Alfred’s prices. Inskip emphasized the inefficiency of the current market, noting that nearly 30% of consumers switch providers regularly, often spending considerable time researching and negotiating better rates. He argued that this process results in many households overpaying by an average of £1,000 annually. By offering a single provider for multiple essential services, Alfred seeks to streamline this process and reduce financial strain on families. Looking ahead, Inskip has set ambitious growth targets, aiming to reach 50,000 members within three years, a figure he believes represents the company’s breakeven point. While the exact number of early sign-ups remains undisclosed, the company has already attracted attention from media outlets and potential investors. With the UK facing rising living costs and energy prices, Alfred’s entry into the market highlights a growing demand for innovative solutions to help households manage expenses more effectively.