EDF Fix May 24v3

luckwudaveit

I've been offered the above fix until end May 24, as featured in today's MSE email. Interestingly, the standing charges are as the current cap. The unit rates increase as below:

Electricity 27.8p to 34.85p
Gas 7.336p to 9.692p

Exit fees, a scorching £150 per fuel. 

I'm tempted to go with it and if prices drop significantly, it might be worth paying the exit fees. 

QrizB

For

luckwudaveit said:

I've been offered the above fix until end May 24, as featured in today's MSE email. Interestingly, the standing charges are as the current cap. The unit rates increase as below:

Electricity 27.8p to 34.85p
Gas 7.336p to 9.692p

For Ofgem's notional average dual-fuel customer, that would cost around £2450/yr, £350/yr less than the rumoured £2800 October cap.

brewerdave

I am with EDF for gas only, having been SOLR'd from Zog - the "offer" from EDF for the same two year fix ,gas only, sees the price per kwh go from 7.444p to 12.033p !!!  9.692p seems like heaven !!!

brewerdave

Just looked to see if I could do better by switching my electricity to EDF (as well as the gas) the only online quote is "fix total service long term" running til 31/5/2024- the leccy price they offered is 11p/kwh more than BG's one year fix AND the gas price is still 12.033p /kwh !! 

The_Fat_Controller

I am with EDF on a fix until 30 June.

The EDF fixes are named differently even for existing customers.

May24v3 is for existing customers on the SV tariff

May24v4 is for existing customers coming off a current fix, I have opted to move to this on 1 July, for my usage it is 22% above the SV rate.

Prices are the same for both the above, exit fees £300.

There is also a Fix Total Service Long Term May24 with different rates, 18% more expensive for my usage, but with half the exit fee.

locky123

Are EDF customers being offered fixed deals by direct email or by using their site/app and seeing what is under when you want change tariff? If I use their site/app then I get a 2 year fixed for gas at 11.9p / kWh, 

The_Fat_Controller

@locky123

My fix was due to end on 30 June 2022.

The May24v4 offer came by email and also appeared via My Account.

On the website there were two "fixes" for Total Service May24, but with different rates and exit fees.

I wouldn't be surprised if the less expensive one has now been withdrawn but as I have already taken it, My Account only shows "Thank you for choosing your new tariff"

brewerdave

I tried various methods online ,to get quotes for gas yesterday from EDF . All that was coming up (as an existing customer) was the Total Service May24 with gas at 12.033p/kwh EVEN if I wanted to switch my leccy over as well.
 I've never been offered a fix by EDF via the website or the app or email, whether v3 or v4 or vxxxx............

luckwudaveit

Bumping this because of the potential for this, and other fixed deals taken over the summer, to not work out for us if the government 'freezes' the price cap. Potentially we have been overpaying since we signed up to the deal and will do until the cap equals or goes higher than the tariff we took. I know there's not been a confirmed announcement yet, but it will be interesting to see how this pans out.

pochase

Don't you think one tread with 26 pages is enough?

https://forums.moneysavingexpert.com/discussion/6379442/opposition-proposals-to-freeze-the-price-cap-fair-for-people-who-have-fixed/p1

OGP

Am I correct in thinking that the EDF Fix May 24v3 is still better than yesterday's announcement re 1st July 2023 capped prices? If so, I assume I don't have to think about terminating my contract for another 3 months.