Electricity and gas tariff query from first time homeowner

Elma2019

Hello everyone,

I am a first-time home owner so I am feeling quite overwhelmed when searching for tariffs and working out my best option. Any advice would be gratefully appreciated. In particular, I have the following query:

The home I have purchased has EDF for the gas and electricity supplier (pre-payment meter). My dad had advised me to switch to bill payment, as he believed it would be cheaper. After talking to EDF, they advised that pre-payment is actually a bit cheaper than paying via bills.

I'm currently on Blue Plus Fixed Pre-Payment September 2020. Prices are inclusive of VAT and no exit fee should I wish to change. These are my prices:
Electricity: 15.33 pence per unit. 31.4 pence standing charge
Gas: 3.67 pence per KW hour. 28.55 pence standing charge.

Do you think I have got a good deal here, or, it's time for me to look elsewhere?
I would be immensely grateful for any responses.

Thomas_Edison

The cheapest deals available are always by direct debit, and also prepay can be a real pain managing. I'd ask EDF to install a Smets 2 smart meter so you can get a credit deal or enquire with a new supplier about how you could switch to credit.

Your standing charges are very high and not great unit rates so I'd go and do a comparison and compare.

You can use the following to get a rough idea of how much you'd save

A 1p cheaper standing charge saves you £3.65 a year. 1p X 365 days.

A 1p cheaper elec unit rate saves on average £31 a year
1p X 3100 (Avg UK consumption 3100kwh of elec)

A 1p cheaper gas unit rates saves on average £120 a year 1p X 12000 (Avg UK consumption 12000 kWh of gas)

Elma2019

Thank you for this detailed advice - it’s very helpful.