EDF offering me 29.51p kWh on a 2yr fix...what say ye?

in_my_bumble_opinion

yay or nay? 


SC is 49.65

£150 exit fee.

I have till the end of the month to decide. The standard tariff is 27.84p (same SC).

We are electric only.

Mstty

Yes that is a punt I would take, it is still a gamble but the latest forecasts say a rise in Oct '22 then a fall in prices Apr '23

Ultrasonic

in_my_bumble_opinion said:

We are electric only.

Just to check - are you not on an Economy  7 tariff? 

in_my_bumble_opinion

Ultrasonic said:

in_my_bumble_opinion said:

We are electric only.

Just to check - are you not on an Economy 7 tariff? 

No. We are coming to the end of our current fix (GoElectric single rate) and this is the offer to stay on it for another 2 years.

Ultrasonic

in_my_bumble_opinion said:

Ultrasonic said:

in_my_bumble_opinion said:

We are electric only.

Just to check - are you not on an Economy 7 tariff? 

No. We are coming to the end of our current fix (GoElectric single rate) and this is the offer to stay on it for another 2 years.

And you don't have night storage heaters such that switching to an Economy 7 setup is an option? I'm asking as you have a VERY expensive heating solution if not and looking into options to improve this may well be wise.

My gut reaction to the tariff you've been offered is that it's pretty good under the circumstances and I'd probably take it. Nobody can be certain what will happen to prices over the next two years though.

SAC2334

I m still gobsmacked at paying as much as 27 p kwh .Personally I would nt accept that for as long as 2 years, 1 year yes but not 2 .

brewerdave

Much better than the "exclusive" fix BG offered for leccy !!!

bristolleedsfan

brewerdave said:

Much better than the "exclusive" fix BG offered for leccy !!!

O/P is on a tariff designed for those with electric vehicles and no smart meter

brook_heather

The UK's energy price cap is expected to rise in October to around £2,800, Ofgem's chief executive says.

https://news.sky.com/story/cost-of-living-energy-price-cap-expected-to-rise-by-830-to-2-800-in-october-says-ofgem-chief-12620359

Ultrasonic

in_my_bumble_opinion said:

No. We are coming to the end of our current fix (GoElectric single rate) and this is the offer to stay on it for another 2 years.

@bristolleedsfan just made me check - isn't that a dual-rate tariff, being cheaper at night?

bristolleedsfan

Ultrasonic said:

in_my_bumble_opinion said:

No. We are coming to the end of our current fix (GoElectric single rate) and this is the offer to stay on it for another 2 years.

@bristolleedsfan just made me check - isn't that a dual-rate tariff, being cheaper at night?

GoElectric

Our single-rate competitive EV tariff offers fixed cost electricity all day.