I've had a price cut from EDF

Be_Happy

I submitted my monthly readings yesterday and got bill today with note that I could change tariff and save.

I'm on Blue+Price Promise February 2017 (E7) and have now changed to Blue+Price Promise April 2017 (E7).

Unit prices are considerably cheaper and my calculations agree with EDF's in that I should save £113 a year. Not only that, but when checking on Energy Saving Club, there is no cheaper tariff for me.

footyguy

Be_Happy wrote: »

...there is no cheaper tariff for me.

Can I ask which supply region you are in please?

Unfortunately, EDF apppear to have followed suit of many major suppliers and removed the full tariff details (all regions) from their website, but looking at a few selected regions, they still seem quite expensive.

backfoot

It's a well rehearsed argument that many savings claimed by switching are misleading.

I had my first bill today from EDF and it says I could save £50 by switching to their Blue +Price Promise April 2017. In fact such a switch would cost me £48.

I also played around with their online quotation tool and that claimed a saving of staggering £250 p.a.

The OP says he has done his own calculations which match EDF's so it looks like that one has been checked through, but I would warn others once again, that the methodology used needs to be treated with extreme caution.

It is also apparent that EDF's standard tariff for gas only is 61% higher than the online tariff. Shameful :eek:

Be_Happy

Hi Footyguy.

I'm in South Scotland. April 2017 Prices are SC 18.9p, Day 12.89p and Night 5.64p (all prices include VAT).

Old prices were 18.9p, 14.95p and 6.18p.

Hi Backfoot.

Yes I always do my own calculations before assuming any savings quoted are correct, and these are in my case.

Unlike some other companies I've been with, EDF's monthly DD jumps up and down regularly (always given notice before any change) rather than staying the same for a year then adjusting.

footyguy

Be_Happy wrote: »

Hi Footyguy.

I'm in South Scotland. April 2017 Prices are SC 18.9p, Day 12.89p and Night 5.64p (all prices include VAT)....

Perhaps you have just hit their sweetspot based on you own particular usage / ratio between normal & low rate (the EDF tariff is very cheap for low rate compared to others in that area - in North Scotland for example they want 7.035p per kWh at low rate )

But for lowish users then their is currently available in your region (from different suppliers):

SC: 14.04p per day (cheaper than EDF - saves about £18 p.a.)
Day: 12.636p per kWh (marginally cheaper than EDF)
Night: 6.389p per kWh (about 12% more expensive than EDF)

or for higher users where standing charge is less of an issue

SC: 21.00p per day (slightly more expensive than EDF - but you'll save that in just 2 normal units per day)
Day: 11.771p per kWh (about 10% cheaper than EDF)
Night: 6.405p per kWh (about 12% more expensive than EDF)

or even

SC: 25.36p per day (more expensive than EDF)
Day: 11.918p per kWh (about 7% cheaper than EDF)
Night: 5.973p per kWh (about 5% more expensive than EDF)

But you say you've consulted a comparison site and done your own caculation, which hopefully gave you the same result, so stick with EDF if that is cheapest for you at present
At least there are no early exit fees with EDF so you can take up any cheaper deal if and when one comes along.

molerat

They have reduced the gas price by 0.002p, I don't think I will bother changing tariff for 38p a year saving

Hoof_Hearted

I have been offered a new EDF deal (Apr 17 from Feb 17) to save £29 a year. It's all smoke and mirrors because it assumes that my present deal plus one month on their standard rate will be cheaper. It probably is but there is no way I will ever go on the SVR. Having run the numbers, the Feb 17 deal remains cheaper for me. Next March (or before) I will look for a better deal (as long as it's not with Scottish Power).

teddysmum

The last online bill, from my supplier (not EDF) had a note saying that I would save if I moved from my present fix, to the equivalent currently being offered, but this was not true.


Changing would have cost me more and I suspect (though it didn't say) that a saving would only apply for someone on a standard rate or ,possibly, was based on an average usage which was not mine.


I never trust any suggestions and do my own calculations.

backfoot

Basically OFGEM are complicit in misselling.

The methodology used by comparison websites and the requirement on Suppliers to advise of cheaper products can lead to incorrect decision making and costly mistakes.

It is amazing that they haven't reviewed and changed it.

System

backfoot wrote: »

Basically OFGEM are complicit in misselling.

The methodology used by comparison websites and the requirement on Suppliers to advise of cheaper products can lead to incorrect decision making and costly mistakes.

It is amazing that they haven't reviewed and changed it.

Report your concerns about the methodology to consumeraffairs@ofgem.gov.uk

You will get a standard reply stating that an assumption has to be made about what happens at the end of a fixed price contract. The Ofgem-mandated methodology is accurate for all comparisons except for consumers on fixed priced tariffs with less than 12 months to run.

backfoot

Thanks Hengus.

I have reported many things directly in the past to Ofgem and have spoken many times to one of their most Senior Employees.

You can look at my history to see that I was an active campaigner on a number of topics.

Basically, Ofgem are a complete waste of time to contact. they will listen to your complaints and do nothing. The Energy Ombudsman is equally useless and I would not waste any further time on them.

I have raised a formal complaint with EDF. They will explain the methodology and nothing will change but it may add to the stats on this topic.

Some of the results produced are totally embarrassing. All I can sensibly do is help out other posters as you do.