EDF Direct Debit Whole Amount Monthly

pochase

Deleted_User said:

I'm not sure if I should start a new thread for this...but I'll give it a go here first. I was listening to Martin's podcast from this week and he suggested that now might be the time to fix. He mentioned EDF's Fixed Total Service May 2024 V3 + 4.

On my EDF account I cant find that particular option but there is a 2 year fix and the monthly payment will be £137.00 a month. I'm currently paying (around) £77.00 a month. I'm assuming its not worth me fixing?

You are comparing apples and pears here.

You opted for a whole amount direct and are currently billed on what you use around £77 per month. You are been quoted on a average direct debit amount of £137.  You need to look at what your usage will be for a year, and that is not 12 x £77, you can expect much higher bills in winter when you need heating.

The other point is that EDF does not just have one fixed rate offer, they seem to offer customers (randomly?) very good or horrific deals at the same time. 

What are the rates you have been offered and what is your annual usage?

The_Fat_Controller

Go to your account and select CHANGE TARIFF, then payment method and see what is on offer.

The page will show your estimated annual usage taken from the bottom of your last bill along with the costs for your current tariff, the SV and any offers currently available.

When I swapped, there were two different versions of "May24", with differing rates and exit fees.

[Deleted User]

Thank you both! The £137.00 is the only fixed rate I'm being offered right now.

I'm conscious that Martin said that the increase for a new fixed rate shouldnt be more than 35% and therefore £137.00 is way above that %. Hence me assuming I shouldnt go for it.

Although interestingly EDF have my variable amount to be paid each month as £109.00 but I'm only paying between £77 and £86

[Deleted User]

Oh and my annual usage is:

Gas 10,962
Elec 1,268

The_Fat_Controller

@Deleted_User what tariff are you currently on ?

EDF may well be adding the predicted October 2022 rise of 40 odd percent for your next 12 months usage.

[Deleted User]

The_Fat_Controller said:

@Deleted_User what tariff are you currently on ?

EDF may well be adding the predicted October 2022 rise of 40 odd percent for your next 12 months usage.

Oh I see. Thats sad

Robin9

Deleted_User said:

Although interestingly EDF have my variable amount to be paid each month as £109.00 but I'm only paying between £77 and £86

That's the way the Tariff works -   it is  what will be collected should you not submit a monthly read

QrizB

Deleted_User said:

Thank you both! The £137.00 is the only fixed rate I'm being offered right now.

I'm conscious that Martin said that the increase for a new fixed rate shouldnt be more than 35% and therefore £137.00 is way above that %. Hence me assuming I shouldnt go for it.

Although interestingly EDF have my variable amount to be paid each month as £109.00 but I'm only paying between £77 and £86

EDF think that, if you were paying the same amount every month, you'd be paying £109.

They're likely to have calculated the fix on the same basis. £137 is only 26% higher than £109 so it's probably worth taking the fix.

[Deleted User]

I see. It seems so much  money compared with what I'm paying right now. I understand that I'll pay more in the Autumn/Winter but £137??? Wow 

molerat

The_Fat_Controller said:

Go to your account and select CHANGE TARIFF, then payment method and see what is on offer.

The page will show your estimated annual usage taken from the bottom of your last bill along with the costs for your current tariff, the SV and any offers currently available.

When I swapped, there were two different versions of "May24", with differing rates and exit fees.

My daughter is being offered 2 different June 24 fixes and I am being offered only one but different again.