EDF promises not to hike prices before March News Discussion

MillicentBystander

backfoot wrote: »

Could you clarify please what this refers to?

I have looked at the T&C's to the Online Saver 7 and can't find any reference to your quote. As I am within the cooling off period I just want to check I haven't fallen into any trap.

KimYeovil is absolutely correct. I think the clue may be in the 'guaranteed to be 2% less than standard rate' when it is currently much more than 2% cheaper than standard rate, if you see what I mean. Nothing in the T&Cs stopping EDF increasing the tariff rate of online saver v7 to be 'only' 2% cheaper than standard rate. Whether they do this or not none of us knows, of course.

KimYeovil

backfoot wrote: »

This is taken from the Terms and conditions:

'The £75 and £25 goodwill credits will be credited to your Electricity and/or Gas account respectively

within 90 days of your supply having transferred successfully to EDF Energy.'

You have missed out the subsequent condition:

7. Only a maximum of £100 goodwill credit per customer is permitted. This offer may not be used in conjunction with any other offer from EDF Energy. No cash alternative is available and the offer may not be transferred. The goodwill credit for this Welcome Bonus is not redeemable or refundable if the customer subsequently changes supplier before the end of tariff period.

It is perfectly reasonable to put conditions on such a bonus. And the tariff is a variable tariff but EDF have been okay before with not exploiting the 'increase prices to the maximum' loophole (their Saver 5 tariff rates were kept low for the entire length of the tariff despite a similar get-out (and despite a much larger disparity.))

Not 'traps'. I don't think it is anything to worry about (which does not mean it will not happen.) Just go in with open eyes and don't expect the moon.

backfoot

MillicentBystander wrote: »

KimYeovil is absolutely correct. I think the clue may be in the 'guaranteed to be 2% less than standard rate' when it is currently much more than 2% cheaper than standard rate, if you see what I mean. Nothing in the T&Cs stopping EDF increasing the tariff rate of online saver v7 to be 'only' 2% cheaper than standard rate. Whether they do this or not none of us knows, of course.

Oh I see now thanks.:T

It would be a hell of a sharp practice to have used this Price Freeze Publicity to then pull a fast one. I wouldn't put anything past any of the Energy Companies, but at this stage I will take it at face value. They would probably be breaching some sort of advertising regulations if they did.

The Terms and Conditions blurb and Press Release indicate it is a genuine strategy to attract switchers following SSE's notice of increase. It also tests the reaction of the other providers.

For now, I still say well done to EDF.

backfoot

KimYeovil wrote: »

You have missed out the subsequent condition:

It is perfectly reasonable to put conditions on such a bonus. And the tariff is a variable tariff but EDF have been okay before with not exploiting the increase prices to the maximum loophole (their Saver 5 tariff rates were kept low for the entire length of the tariff despite a similar get-out (and despite a much larger disparity.))

I don't think it is anything to worry about (which does not mean it will not happen.) Just go in with open eyes and don't expect the moon.

Kim,thanks.

It may be me being wrong but I read 'not redeemable or refundable' as being by EDF not the Customer.

I took it to mean that once it was paid within the 90 days,they wouldn't ask for it back even if you switched before December 2011.

What do you think?

MillicentBystander

To be fair to backfoot, the wording on the T&Cs in regard to the £100 welcome bonus seem to make no real sense to me. Maybe they were originally written in French and EDF UK translated them via babelfish?

PS I have gone through topcashback (Quidco are offering the same, I believe) for an extra £80. Will minimise the financial fallout if I ever need to get out of there before the end of the tariff period, lol.

t0rt0ise

Coincidentally I asked them about this via the contact form on the website and was amused with the message that appears that says that someone will be in contact in the next couple of days to confirm receipt.. not to answer it but just to confirm receipt. So it takes them days just to say that they will answer.. LOL. I signed up for that deal already but I don't hold out much hope for the customer service. Hopefully I won't have cause to contact them very often.

competitionscafe

£60 exit penalty if you leave before December 2011 but balance that against £100 bonus and £80.80 topcashback, plus if you switched in March/April there may be cashback available from the supplier you switch to - £60 or so would be ideal to cover the exit penalty.

Also might be an exit penalty to switch from your current supplier to EDF so do the maths before switching. My current tariff with EON (no longer available) is £80 a year cheaper (according to energyhelpline) than switching back to EDF, no exit penalty from Eon but unsure if it's worth switching even with the £180?

backfoot

I calculate that my switch will be worth £365 p.a.

That includes the £100 bonus and the Quidco £80. Of course, there is the waiting time for the switch and the potential change of rate in April 2011.

All in all, better than doing nothing.:)

As Kim Yeovil hasn't come back on the point she raised about the £100 bonus, I am assuming in this calculation, that it isn't refundable to EDF, if you leave before the tariff period end.

MillicentBystander

backfoot wrote: »

I calculate that my switch will be worth £365 p.a.

That includes the £100 bonus and the Quidco £80. Of course, there is the waiting time for the switch and the potential change of rate in April 2011.

All in all, better than doing nothing.:)

As Kim Yeovil hasn't come back on the point she raised about the £100 bonus, I am assuming in this calculation, that it isn't refundable to EDF, if you leave before the tariff period end.

If she's anything like me, she may be still trying to figure out exactly what this wording actually means:

The goodwill credit for this Welcome Bonus is not redeemable or refundable if the customer subsequently changes supplier before the end of tariff period.

Total gibberish to me. Anyone have the definitive answer, maybe 'directement de la bouche des chevaux'?

JamesK10

Sticking with EDF for one more winter and will see what the Christmas bill is like, will leave the electricity with them but the Gas will get switched if it doesn't improve.

Despite the cold snap my thermostat hasn't gone up and have used my heater maybe three times in the past month when it went below zero, and I boil a kettle to do one large wash-up in the kitchen rather than leave the hot tap running, which is where the most gas gets burned. Even if it's just shifting money from the gas to the electric bill, it should make some token difference - I hope.

Had to write them a complaint about getting my final batch of Nectar points as they seem to be stalling, since they were sold the service seems to be on a deliberate downgrade if you were unlucky enough to be on a combined account.