EDF energy fixed tariff offer - any good?

l.c.elliott

Hi, just moved house and my new house is supplied by EDF. They have offered me this tariff: any good?

Gerry1

And the exit fees are...?

No-one can really tell you.  If the rates go stupidly high and stay that way, then those could look like bargain basement prices in a year's time.

But if things revert to something nearer to normal, you could be stuck on an expensive tariff for a long time, with expensive leaving fees.

l.c.elliott

£300 exit fees 🙈

Gerry1

l.c.elliott said:

£300 exit fees 🙈

Ouch !  I wouldn't risk it, but your guess is as good as mine.

pochase

This is a good deal for a 2 year fix in the current climate. Around 20% over CAP for electricity and 25% for gas.

Is there an exit fee?

Gerry1

Read the Ts &Cs very carefully.  Make sure they can't end it early by giving you a notice period.

QrizB

l.c.elliott said:

Hi, just moved house and my new house is supplied by EDF. They have offered me this tariff: any good?

By the standards of previous years it's terrible, but (and I can hardly believe I'm typing this) for a fixed rate on offer today it's pretty good.

Electricity at 33.87p/kWh and gas at 9.962p/kWh is roughly 25% and 35% above the current (April) capped variable tariff, while the standing charges are close to the capped rates. It's not impossible that prices will be higher than that from October this year.