EDF Total Service Feb24v5

dan91

Hey,

Anyone know if this is worth fixing considering whats going on with Russia?







Any feedback would be appreciated! I can see its dearer a bit than the april rise but I'm guessing its going to rise more due to russia and other ongoing world issues?

Thanks

Shedman

Its the exit fees on the EDF fixes that are the killer at £100 per fuel should things improve during 2023.  

You'll obviously lose out a bit during April to Sep period (and a fair bit in March if you switched now ) but then, particularly for gas, usage will be much lower so the impact is moderated but If the capped rates go up by 20% in Oct (maybe looking somewhat optimistic now perhaps given Russia sanctions impact) then you will then start clawing some of that back.  Obviously if cap goes up by more than 20% in Oct (or Ofgem increase cap more frequently) then the clawback will be better.  But it's likely that you'll only start to see a significant saving if the cap goes up again next April by another 20% or so and who knows whether thats going to happen or not.

I'm just doing the exercise myself by using the month by month usages over the year rather than just using the total year usage so as to get a more accurate picture of the impacts/savings and applying some assumptions to the changes that may occur in Oct 22 and April 23 to see if the additional costs over next 6 to 9 months or so are outweighed by potential savings during 2023 (or what the downside is by taking the fix if prices don't go up as much as anticipated).  Its not producing an obvious clear decision one way or the other.  Trouble is as they say on QI 'nobody knows'.

skyn3t

I algo got this offer, and I'm tempted to switch because I see things go worst in the next few months

IPWright

@Shedman yeah, I'm trying to calculate thing, but having only 75 days of usage history in a new house makes things difficult!

hobo_baggins

I had been offered this deal which I was considering but it has now been withdrawn (for me anyway) and the fix now being offered today is 30% more expensive. 

jamei305

Yes I saw this the other day and was tempted to go in now and sign-up due to the Russia situation but they've hiked the gas unit price up to 11.938p