EDF price drop and I just fixed :-(

jrawle

Keep checking the comparison sites over coming months and see if you could save money by changing tariff/supplier. I fixed until the end of this year with EDF, but I only have electricity which they haven't reduced. However, others are starting to lower their electricity prices. It would cost £25 to break the contract, so if I think I can save significantly more than that, I'll switch. Just insert the penalty for early exit into your equation.

TwittersPVFC

hubb wrote: »

Great, after all the scaremongering about constant price rises, EDF are announcing they are dropping by 5% and I fixed mine in December for a year. Great ! Is there anything I can do ? EDF did tell me that prices should rise when I fixed it.

I wouldn't worry too much. Chances are your tariff will be at a cheaper rate than their standard one anyway and only a 10% drop would have seen you lose out.

macman

I'm on EDF FS v2, and even after the reduction, I'm still paying 10% less than the next cheapest EDF tariff.
So the fact that you fixed in December is simply not relevant-what matters is the price that you fixed at.
Fixing was never intended to necessarily be cheaper, it's simply an insurance against further rises.

spadoosh

Dont know what the etiquette with this is and think there might be a possibility of me getting banned but sue this sight, wasnt it massively bumped 6 months ago that everyone should 'fix their energy deals'.

Swipe

spadoosh wrote: »

Dont know what the etiquette with this is and think there might be a possibility of me getting banned but sue this sight, wasnt it massively bumped 6 months ago that everyone should 'fix their energy deals'.

I fixed on npower's go fix 6 (all electric house) last summer and I just did a quick comparison on uswitch (low user, less than 3000kw/yr) and the cheapest deal was £80/year more than my current one so not sure what grounds you could sue the site on. I'd imagine for an average/high usage the difference would be even more significant.

macman

Yes, and so they still should have 6m ago. But in this case, the OP waited until December, when all the cheap fixes had been pulled, and then no doubt fixed at a much higher price.
Those who fixed last Autumn or earlier are still in front.
What was advised 6m ago is not the same as what was advised 1m ago.

spadoosh

My post was supposed to be a bit tongue in cheek, wasnt literally suggesting suing MSE. Martin (and the crew) are clever enough to have disclaimers in any of those types of posts.

HalloweenJack

those who are `savvy` enough know when the right time to move is , looking at whats available , whats cheap and what isnt - and whether you want to fix 1 year , fix longer or stay variable ; or even move from 1 fixed to another.

pigeonpie

If you fixed with EDF for 2013, didn't you get the £50 cashback which helps to reduce the impact of the price rises? What they give with one hand, they've already taken away with the other.

I am still in the cooling off period with OVO. I may go back to EDF. I do not like or trust variable DDs and don't like having to pay £90 a month in the winter months (until April), when my DD of £60 with EDF had me heavily in credit.

What would help is if the tariffs were standardised by law ie the first x KwH costs x, daily standing charge is y etc across the board. So we could all compare who was the cheapest in our region, as we can with mobile phones, broadband etc. The utility cos profit from our understandable confusion, especially as heat and light are essential services. I can't think of any other essential services whose billing is allowed to be so opaque.

macman

You can do an extremely accurate cost comparison simply by using a comp site with your annual kWh figures. That will take into account all the factors except cashbacks..