EDF options

Paddy99

Hi guys,

I'm just looking into options for my EDF fix considering the risk that prices may rise next month. I'm actually in a fix until Nov 20 but no exit fee so contemplating jumping to something new.

At the moment my options appear to be

Easy Online Apr 20 - Saving £30/year - £60 exit fee
Blue Price Protection Apr 20 - Saving £11/year - £0 exit fee
Blue Price Freeze May 21 - Saving £5/year - £0 exit fee
Energy+Heating Control May 21 - Extra £14/year - £200 exit fee (free heatsmart and Echo dot)

I'm thinking it's pointless going for the Apr 20 ones because although a saving, it's minimal and would end 6 months earlier than current product. I'm tempted by the Energy+Heating one as the £14/year extra is hardly anything and get the free Heatsmart. Also if prices do go up as I'm sure they will by November 20, I'm already protected for another year.

What's the thoughts of you gurus please?

Paddy99

Just noticed you also get a £20 voucher to use in their smart shop which could be useful for a smart plug and already offset one of the years increase

[Deleted User]

For me the "Blue Price Freeze May 21 " would be the one.
Why?
1. No exit fees.
2. Lasts longer than the current fix.
3. The free smart thermometer wouldn't work on my boiler.

If the long term prices are cheaper than current prices then you can bet that the energy firms are expecting prices to drop significantly. So locking into a 2 year deal with a £200 exit fee isn't a good idea.

Paddy99

ok thanks. Personally I wouldn't normally go for a hefty exit fee like that but kind of feel that prices aren't going to drop in 2 years and would want to exit

Takmon

The best advice as always is to look at a full market comparison and not just one company before making any decision.

Paddy99

I've just done a quick checkup on some comparison sites. Appears that EON are cheapest with potentially £200/year saving with 12 month fix. I do know I've been with them in the past and customer service wasn't great.

Obviously do like the idea of the netamo but then in the past I've always thought that I'm probably not going to get much out of it

matelodave

Have you actually done your sums to see how much it's going to cost rather than what a comparison site says you might save.

Paying extra to get a new toy thrown in as a sweetener doesn't sound like a good deal to me, but it's entirely up to you.

As far as I'm concerned, I want the cheapest price per kwh. every extra penny costs me around £72 a year so I check the tariff charges rather than looking for "savings" or toys.

Paddy99

Yep don't think will go for that one. Seems the Netamo isn't potentially the best anyway. Could move to EON with their claim of £200/year saving but only fixed for 12 months. Think makes sense to fix as long as possible with the inevitable price rise.

Also with summer coming, think it's probably better to wait until the winter to get a smart thermostat as I won't need in the summer and probably better models by next winter

matelodave

If a smart thermostat costs £150 then you've got to some how save £150 on your energy consumption to make it worth while.

I dunno how much you actually spend on heating your home but lets say £600 coz although you might pay £1200 but the rest goes on hot water, the tv, lighting etc etc.

If your magic thermostat saves you 10% = £60 then you might break even in around three years, however if it doesn't then it could take 5 years or more but it would give you something to play with in the meantime.

worried_jim

Just let a third party worry about it for you-

https://lookaftermybills.com

Paddy99

Not sure what Eon service is like now