EDF tariff change sanity check

Yorkie1

Hi All

I'm on EDF Fix August 2015, with tariffs of:
Elec 12.26p/kWh
Gas 3.545p/kWh

Their Mar 2016 Fix seems to have similar prices of:
Elec 12.83p
Gas 3.523p

Standing charge is the same for both tariffs, of:
Elec 18.9p (=£68.99 pa)
Gas 26.25p (=£95.81 pa)

Annual usage of 1800 kWh Elec and 10500 kWh Gas.

I reckon I'd only be paying about £8 annually more on the new tariff (£766 rather than £758).

I'm happy with EDF - it seems a no brainer to fix for another winter on top?

SoletraderSteve

Correct, or alternatively you could change your gas tariff only. Up to you. Personally I would fix both on the March 2016 tariff for the small electricity difference.

indigo987

I'd probably switch - I'm considering a similar change on EDF, has anyone updated their tariff with them online? I don't want to go to any hassle changing tariffs for only a few pounds saving. If it's simple then I'll set it in motion!

Yorkie1

I did it online last time, I think - don't remember any particular hassle associated with it. I did make sure to take meter readings at the time, though.

johnbhoy10

indigo987 wrote: »

I'd probably switch - I'm considering a similar change on EDF, has anyone updated their tariff with them online? I don't want to go to any hassle changing tariffs for only a few pounds saving. If it's simple then I'll set it in motion!

I moved from one EDF tariff to another a few weeks ago and took the gas and leccy on the Feb 2016 deal. Piece of cake it was..just select new tariff and jobs done. I then noticed that although my leccy was the cheapest they had i would be better off taking gas to March 2016. Did this over phone as i don't think you can just select the one when you change online.

Think the pros of fixed prices and also no exit fees outweigh the cons with EDF. In fact, the only one i can think of is that i'd be slightly cheaper by approx £50/60 on my usage but i'm willing to pay that price because of the overall package

cklass

I called and asked them to just change the gas over to March 2016 because, as you've noticed, the electricity rate is slightly more expensive on this tariff. The rep kindly offered to move both over and refund the increased electricity cost (it was only about a £6 difference for me, but he gave me a £10 credit regardless), so that I wouldn't get two separate bills, and it'd be fixed for an extra month (I was on the February 2016 tariff, which had the same rates as the August 2015 tariff). Call and hopefully you will get a nice rep who is willing to do something similar.

Yorkie1

Just realised I never got round to switching to this tariff, but have looked today and the April 2016 tariff is the same as the March one so will probably go for that.

The other edf tariff is the Feb 2018 tariff, which comes out as £75 per year on my figures more than the Aug 2015 tariff I'm presently on (and therefore £66 p.a. more than the Apr 16 one)

Sanity check again please, if you don't mind: 2016 vs 2018:
- the 2016 tariff saves me £132 over the first 2 years vs the 2018 one;
- therefore any tariff I moved onto in 2016 after the expiry of the 2016 tariff, would have to be £132 more expensive than the 2018 tariff over the following 2 years in order to make the 2018 tariff better value
- doing the maths, that equates to a 25% rise in prices from the 2016 values in order to break even

I don't think it's worth the gamble of going onto the higher / longer tariff.