EDF Energy Discount Plan v4

Nervous_Rex

EDF have sent me a lette saying they are stopping Nectar points and encouraging me to go onto this new Discount Plan v4. Whilst they say that I will save 2.5% I note that the small print indciates that if you sign up and then cancel before Juine 2011 you are liable for a "ternination fee" - "in accordance with Rule 6 of the full tariff rules. However the full tariff rules are not included with the letter. Now EDF has agreed not to raise prices before March 1st 2011 but this new plan takes us through to June 2011 - so potentially we could be locked into higher prices for at least 3 months - if they raise prices after March 1st. So is it a good deal? And why not tell us what the termination fee is likley to be. It makes me suspicious. Any views anyone?

illuminate

like you I read the letter... WHICH MAKES NO MENTION of this actually being the offer of a fixed 18 month contract with penalty charges if you want out early.

It simply implies that you sign up and get a 2.5% discount in lieu of the nectar points. Very dodgey.... Who else reckons thousands have simply signed this unaware of what they are commited to.

As the OP has said.... 3 month price freeze, then 15 months where they can effectively charge you what they want, including charging you for switching suppliers.

No thanks.

Be aware folks.

lindabea

Nervous_Rex wrote: »

EDF have sent me a lette saying they are stopping Nectar points and encouraging me to go onto this new Discount Plan v4. Whilst they say that I will save 2.5% I note that the small print indciates that if you sign up and then cancel before Juine 2011 you are liable for a "ternination fee" - "in accordance with Rule 6 of the full tariff rules. However the full tariff rules are not included with the letter. Now EDF has agreed not to raise prices before March 1st 2011 but this new plan takes us through to June 2011 - so potentially we could be locked into higher prices for at least 3 months - if they raise prices after March 1st. So is it a good deal? And why not tell us what the termination fee is likley to be. It makes me suspicious. Any views anyone?

I think you will find that the lock in period is until June 2012 not 2011

Pincher

WHAT deal does NOT come with an early exit penalty? Standard Tariff.

If you do come across a deal which gives a decent discount on standard tariff, with no penalty attached, I think we are all ears.

opal09

I've just spoken to EDF customer services re this plan & if I understood correctly it seems that irrespective of if their tariff goes up, that if you have signed up to this plan, the price you pay will still be 2.5% less than the price increase rate than if you hadn't signed up! I assume this applies for the length of the contract. However, I'm still not entirely convinced and as its always very hard to calculate any savings based on consumption & vice-versa, will not sign up. May I also suggest that those of you who have collected Nectar points from EDF, that you check your Nectar statement to ensure you have received the correct number of points for the year; this can also be hard to reconcile, as I'm not sure what period EDF's 'year' covers, ie is it Jan - Dec, April -April (as in Tax yr) in conjunction with quarterly bills which can sometimes span 2yrs, eg 20-Nov-09 - 19-Feb-10 for instance??

illuminate

Pincher wrote: »

WHAT deal does NOT come with an early exit penalty? Standard Tariff.

If you do come across a deal which gives a decent discount on standard tariff, with no penalty attached, I think we are all ears.

You've slightly missed my point here.

The way its presented in the letter, it mentions only the cessation of the Nectar scheme and the offer of 2.5% discount. Nothing at all about any contract or withdrawl penalties. Thats my objection (and maybe also the OP's).

A very iffy practice that will entrap less observant customers and hence my wish to highlight it here.

Pincher

Nervous_Rex wrote: »

I note that the small print indciates that if you sign up and then cancel before Juine 2011 you are liable for :ja "ternination fee" - "in accordance with Rule 6 of the full tariff rules.

illuminate wrote: »

You've slightly missed my point here.

The way its presented in the letter, it mentions only the cessation of the Nectar scheme and the offer of 2.5% discount. Nothing at all about any contract or withdrawl penalties. Thats my objection (and maybe also the OP's).

A very iffy practice that will entrap less observant customers and hence my wish to highlight it here.

And my point is you can say that about every tariff literature, if you choose to ignore the small print.

rinoa778

This deal looked ok from the letter but I wanted to check online to see other people's opinions of it. So far I have a positive view of this plan (maybe the courtesy call was more of a sales pitch?).

I'm still undecided so it looks like I have to meticulously read the full T&C's online.

I am a DD paying dual fuel customer is that helps.

Nervous_Rex

My apologies for getting the date wrong - yes it is 2012! But the point really is the devious way this is being sold to people without the limitations being made very clear. But if as is indicated by one respondent you will be 2.5% of any new prices coming along the it begins to sound more promising. I'll try and check this.

fiesata

Called EDF this morning they confirmed that there is an 18 month tie in and £25 release fee

Before I called I used energyhelpline.com to coompare and noted that EON could save me £167 pa so I put this to EDF who miraculously found Online S@ver v8 which will save me £161 pa so thanks EDF your tricky dicky letter has spurred me on to save more :money:

mankymonkey

Hi there, I very nearly signed up to this and I'm glad I didn't...I'll explain why. The letter arrived just before Christmas and said I had to sign up by 31 Dec or miss out. I checked out these forums and realised I may be on a better deal already. So I phoned EDF to check. Operator helpfully told me I was on a much better deal already (ONLINE SAVER V6) and although my deal expires in June 2011 I'd be better off staying put. I said it was odd that I'd received the letter then encouraging me to switch and he said this was because I was being charged at the Standard Tariff since I switched suppliers earlier this year. He's going to revise my bill and give me a refund. Boy am I glad I picked up the phone! :j

Have to say I'm not impressed that they've been overcharging me since I switched. How many other people are in this situation? Nowhere on my online account does it state which tariff I'm on. I had to phone to ask. I think all the energy companies are pretty much up to the same tricks. Why doesn't the regulator sort this out?