not sure if fixing with edf is the right thing to do?

pochase

You need to compare the total amount you will be paying, not the unit rates to calculate the percentage.

Mstty

whyisnamealwaysunavailable said:

Hi... many thanks for all the replies!  I have looked at the actual figures... my current tariff/unit rate is Gas 7.36 - if I fix to June 2024 it goes up to  11.559, an increase of 57%.  Electricity is currently 29.58 - if i fix to june 2024 it goes up to 41.53, an increase of 40%.  So, if the guide is to fix if you are below 40% is a bit tricky as Gas is over and Electricity is on the nose... Also, this is a fix to 2024 but the costs may reduce april 23 according to the albeit weak predictions?  kinda thinking of hanging on rather than tie in for 2years?  What do you guys think??

This may help your decision but no one knows year 2 of any two year fixes available now.

 https://www.cornwall-insight.com/new-forecasts-for-the-january-default-tariff-cap-rise-to-over-3000-for-a-typical-user/

jrawle

Schnozcumber84 said:

Has anyone tried to switch tariff on EDF yet? I tried last night and there is nowhere to enter the code to get £130 off. On the MSE article it mentions that it works for the total service fixed tariff, EDF confirmed (after many Web chats!) That it is just for the standard variable. Tried to use it on there, still no offer code box... any help appreciated!

It is only for people currently on standard variable who move to their fixed tariff. If you are on a fixed deal that is ending, it seems it doesn't apply, at least according to Martin's article that I linked earlier.

The_Green_Hornet

sav0 said:

you can get £130 off this tariff by using code SVTJUN22OFFER so that should  compensate for the difference from the SVT for july/aug/sept

If you are only a gas user with EDF then it makes the 30 June 2024 fix a little more tempting as the £130 credit offer negates the £150 early exit fee if things do change for the better next year.

jvjack

Hi , about that code offer , 
I signed up for the two year fix with EDF couple of weeks ago.  I tried in cooling off period of 14 days to have it applied.  In chat with EDF they tried to apply it and it didnt work. 
Where did that code offer come from, Who got it?

 

whyisnamealwaysunavailable

brickwall001 said:

whyisnamealwaysunavailable said:

Hi... many thanks for all the replies!  I have looked at the actual figures... my current tariff/unit rate is Gas 7.36 - if I fix to June 2024 it goes up to  11.559, an increase of 57%.  Electricity is currently 29.58 - if i fix to june 2024 it goes up to 41.53, an increase of 40%.  So, if the guide is to fix if you are below 40% is a bit tricky as Gas is over and Electricity is on the nose... Also, this is a fix to 2024 but the costs may reduce april 23 according to the albeit weak predictions?  kinda thinking of hanging on rather than tie in for 2years?  What do you guys think??

Theres no right answer, its all a gamble at the moment. you'll be good for next year thats for sure, but unsure about 2024. take it if your willing to pay the £200 exit fee should price cap levels fall below your fix rate.

I don't believe I have an exit fee on my current deal... I will have to check.  I don't know if there is an exit fee on the new deal either

whyisnamealwaysunavailable

The_Green_Hornet said:

sav0 said:

you can get £130 off this tariff by using code SVTJUN22OFFER so that should  compensate for the difference from the SVT for july/aug/sept

If you are only a gas user with EDF then it makes the 30 June 2024 fix a little more tempting as the £130 credit offer negates the £150 early exit fee if things do change for the better next year.

Yes, I thought the same but I looked and I don't think i can get gas from anyone else.  When i searched it just said the transporter is cadent and the provider is edf?

whyisnamealwaysunavailable

Mstty said:

whyisnamealwaysunavailable said:

Hi... many thanks for all the replies!  I have looked at the actual figures... my current tariff/unit rate is Gas 7.36 - if I fix to June 2024 it goes up to  11.559, an increase of 57%.  Electricity is currently 29.58 - if i fix to june 2024 it goes up to 41.53, an increase of 40%.  So, if the guide is to fix if you are below 40% is a bit tricky as Gas is over and Electricity is on the nose... Also, this is a fix to 2024 but the costs may reduce april 23 according to the albeit weak predictions?  kinda thinking of hanging on rather than tie in for 2years?  What do you guys think??

This may help your decision but no one knows year 2 of any two year fixes available now.

Many thanks for sharing, interesting reading... it looks like prices may start to fall in 2023 which is what I believe Martin is also tentatively forecasting.  Therefore signing up for 2 years to 2024 may be prove more costly in the long runpochase said:

You need to compare the total amount you will be paying, not the unit rates to calculate the percentage.

Understood & many thanks for the advice.  I can check back what we used over the past few months but this would differ to Q4 usage and I don't have a record of historic usage unfortunately.  Do you have any other suggestions?

Alnat1

Any old bills will give estimates of annual usage, it's on there somewhere.

They might not be as accurate as working it out from actual meter readings but can give a reasonable idea.

brewerdave

The_Green_Hornet said:

sav0 said:

you can get £130 off this tariff by using code SVTJUN22OFFER so that should  compensate for the difference from the SVT for july/aug/sept

If you are only a gas user with EDF then it makes the 30 June 2024 fix a little more tempting as the £130 credit offer negates the £150 early exit fee if things do change for the better next year.

Didn't work for me as a gas only customer (ex Zog). I was told that it only applied to dual fuel customers ??