EDF? Think they trying to rip people off

Joeuk48

So i checked the deals available to us a month ago and we are currently paying £210 a month, we were looking at fixing for the 2 years, was coming in at £297 per month, which i really didn't want to do, but, i suppose makes sense.  So went on this morning and the same tariff that i was looking at has suddenly risen to £324!!!! Why arent EDF under investigation!!!??? I This UK Government are absolute pants as well as Ofgem!

What_time_is_it

They set their fixed tariff rates according to their projections for where the price is heading. Same as every other company. 
It's like a bet, they are offering you a price and it's up to you whether you take those odds.

I'm in exactly the same position by the way. Also with EDF. I wish I'd fixed a while back, but then I could only make my decision based on the info at the time. Hindsight is a wonderful thing.

pochase

In the last 4 weeks the predicted new cap has increased twice from slightly less than £3000 to over £3244, more than 8% more.

EDF has now increased their fixed tariff by exactly the same percentage. You have taken a gamble not to fix and to wait, and have lost.

TheMilkmansDad

Was it the same tariff? Can you provide the unit rates of both so we can compare.

If the unit rates are not the same then it was not the same tariff.

If they are the same rates then the only logical reason for increase in DD amount would be the amount of usage estimated for the next year. What usage were the two DD amounts based on?

Joeuk48

Hi, Yes its exactly the same tariff as i checked.

I just think its disgusting that they can do this, its just awful.

spot1034

If you are saying that you looked at a tariff a month ago and have just this morning checked again to find that it has been replaced by something more expensive, I would suggest that you are the only person on this board who is surprised by this turn of events. 

What_time_is_it

Joeuk48 said:

Hi, Yes its exactly the same tariff as i checked.

I just think its disgusting that they can do this, its just awful.

Ah, apologies @Joeuk48 I thought you meant that the tariff had changed.

If it's the direct debit, then haggle until they give you a monthly amount you are happy with. In the end you only pay for what you use anyway, and I found that EDF were very accommodating when I suggested a much lower monthly dd then they had initially offered. 

View their monthly dd as an opening offer.

Mstty

Sadly it has become all too apparent that it's best to accept a deal when it comes up especially if it appeared or appears on the "worth considering" list in the link below and then over the next 14 days cooling off period double check your figures and ask questions here. Otherwise the deal will disappear and be replaced by something more expensive as costs are only going one way at the moment and they will probably get worse with all the news coming out of Europe and Russia.

https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/

Mstty

In answer to your question

"Is EDF trying to rip people off"

No they aren't this is just the state of the energy market.

chris_n

It can't be the same tariff as there is no way someone who fixed when you first looked would be paying the same as some one who fixes now, it would be impossible for them to track who is on what rate. The version number must have incremented or one includes VAT and the other doesn't. Given that the projections increased last week it is more likely to be the former.
It's not disgusting, it is necessary. No one is making a fortune out of supplying domestic energy if they were none of the companies would have gone bust last year.

pochase

Did you check for the version number of the tariff?

EDF keeps the name of the tariffs the same, but changes them from V2 to V3 and so on, each new version will be have rate changes.