Not sure what to do regarding EDF?

kerron7

On Monday i decided to look at cheaper tariffs for my Gas and Electric as i was on standard rate with EDF, after speaking to them they sent me an e-mail with 2 online tariffs and decided to go with the online saver v10. This was before i was aware of the looming price increases my question is is there a cooling off period when changing products with the same company? Also how do i work out the difference in price between the online saver v10 and price fix 2014?

Thanks
Kerron

steve237

Hi,

I am sure there is a 12 day cooling off period, and the best way to compare prices between these two products is to find out your actual useage in KWh for your gas and electricity (call EDF and they will quickly tell you), and go to one of the many comparison sites such as energyhelpline. Put your postcode in and key in these figures and it's tell you the cost per year based on your last 12 months useage.

I just switched from EON to EDF and went for the 2014 fix. Based on my useage, it works out about £250 a year more for me compared to v10. This makes it almost exactly 19% more expensive than v10 for me. But if Scottish Power can put up gas by 19%, then it seems likely to me that EDF may do this at least in the next 3 years (I expect more so). That was the reason for my choice.

Good luck!

macman

The other fix option you really should look at is EDF Fixed Saver v2. The 2014 option is being heavily touted by them, as it's a 3 year lock in that comes at a considerable premium. FSv2 is only marginally more than Online Saver 7, but is fixed to 30/9/12, so expect that to be pulled imminently.
Don't phone up and expect to get all the best tariffs-they'll only offer you what they want to sell you. Use the comp sites.

HalloweenJack

whilst 2014 is being heavily touted - it does cover 3 winters for the duration , whereas FSv2 covers 1 but it is actually cheaper than the new OS7 prices for alot of people.

steve237

In case this is useful for others, my annual consumption in KW is as follows:

Gas: 18,434
Elec: 6,188

According to the comparison sites, each of EDF's main tarrifs would cost me the following:

EDF v10 (non-fixed tarrif) £1279 per annum (£106.50 per month)
EDF Fixed Saver v2 (fixed till Sept 2012) £1371 per annum (£114 per month)
EDF Fixed Saver 2014 (fixed till March 2014) £1523 per annum (£126 per month)

I figured for an extra £12 a month, if I was going to fix, I might as well lock in a rate that took me through an extra two winters, all the way to March 2014.

If, for example, that EDF v10 increases by 19% across gas and electricity, then you'd be at the rate of the 2014 fix straight away anyway.

Hope this helps some people.

macman

It could well increase 19% in that time, but it (hopefully) won't do it until you are well into the minimum term of your fix. The really important figure is what you will pay across the whole minimum contract term. Which of course we cannot know for the variable tariff until March 2014...

kerron7

Thanks for the replies. Will have to ring EDF on Monday for my usage as they are closed now, i am a high user really trying to cut down. The other thought i had was as swopping from standard to online v10 has saved my $30 i could save this and use it to pay the extra when the prices increase?