EDF Good rate to fix to?

l.c.elliott

I've been offered this by EDF and not sure whether to fix? Locking into almost 2 years with £300 exit fee is scary...
Also we've only been in our property just over 2 months, we've provided one meter reading, not sure if usage is accurate?eDF 

bristolleedsfan

12 month fixed rates elsewhere for existing customers without exit fees are typically Electricity 40p + kWh  Gas 11.31p + kWh

After 1 year both Electricity and Gas will have covered exit fee compared with above

Mstty

@bristolleedsfan that's not quite true if you read the latest money saving expert newsletter and the posts here on what people are being offered lots of fixes on offer below the figures you have stated. The figures you state are more the exception than the norm at the moment.

bristolleedsfan

Mstty said:

@bristolleedsfan that's not quite true if you read the latest money saving expert newsletter and the posts here on what people are being offered lots of fixes on offer below the figures you have stated. The figures you state are more the exception than the norm at the moment.

Can you see that I was comparing fixed rates with exit fees and no exit fees being as O/P commented about £300 exit fees being scary

Cheapest fixed rates with exit fees are effectively a trade off compared with more expensive fixed rates with no exit fees

Cheapest fixed energy tariffs
Tariff	Average % over current price cap
EDF 2yr existing-customer fix: Fix Total Service May24v3 & v4 2yr fixes. For existing customers on its standard tariff, or coming off a fix.	24% more  Early exit fee: £300 dual fuel As they're 2yr fixes, it's tough to predict the worth as there is a chance prices will drop after April 2023.
E.on (Next) 1yr existing-customer fix: Fixed Online v14 / Next Online v14	30% more Early exit fee: None
SSE 1yr existing-customer fix: 1 Year Fixed v27	32% more Early exit fee: £60 dual fuel
Ovo 1yr existing-customer fix: Better Energy 31 May 2022	32% more Early exit fee: £60 dual fuel
British Gas 1yr fix for existing customers on fixes that are ending: Loyalty Jun 23v1	32% more Early exit fee: £150 dual fuel
British Gas 1yr fix for customers auto-moved to it when their old firm went bust:  Exclusive Jun23v1 1yr fix	32% more Early exit fee: £150 dual fuel
Ovo Energy 1yr open-market fix: Better Smart 25 May 2022  Customer service rating: 3.6/5	38% more Early exit fee: £60 dual fuel

Mstty

No this is factually incorrect

'12 month fixed rates elsewhere for existing customers without exit fees are typically Electricity 40p + kWh Gas 11.31p + kWh'

Eon Next don't have any exit fees on any products and British Gas allow you to switch to any other Tariff for free.

None of those in the table with exit fees add up to the expected £2800 price cap with the exception of the bottom one OVO

Anyway moving on just don't want people getting the wrong advice and not taking a fix believing the tariff they are being offered with exit fees is the same as the October expect rise where the figures you are talking about 40p/11.31p are expected to be the capped rates.