EDF Energy: Fix Total Service Jul24v6 two-year fix

puddsykit

I'm trying to work out how martin lewis is getting this fix at 55% above the SVT.

I'm with EDF on the SVT and currently pay 7.367p per kWh and 27.22p  a day standing charge.
I've been offered JUL24v6 two year fix at  13.059p per kWh and 27.22p  a day standing charge.

This is a 77% increase over SVT.

Am i missing something?

lisyloo

puddsykit said:

I'm trying to work out how martin lewis is getting this fix at 55% above the SVT.

I'm with EDF on the SVT and currently pay 7.367p per kWh and 27.22p  a day standing charge.
I've been offered JUL24v6 two year fix at  13.059p per kWh and 27.22p  a day standing charge.

This is a 77% increase over SVT.

Am i missing something?

are you gas only?
electricity only?
or both?

You only mention one fuel.
I'm guessing martin is talking about dual fuel ??

puddsykit

Yes gas only, that's a good point about the estimate being based on duel fuel. I wonder if there is a way of finding out how much gas prices will rise in october?

pochase

The increase for gas unit rate  is expected to be 90% plus in October. 14.17p has been calculated as the predicted unit rate.

double_dutchy

See here

Default Tariff Cap forecast climbs further as Ofgem announcement looms - Cornwall Insight (cornwall-insight.com)

That Price cap forecast is based on average usage - 12,000 kwh of gas and 2,900 kwh electric

The_Fat_Controller

All the estimated rises and the level at which Mr Lewis is suggesting as the fix point are based on the average dual fuel user.

With Russia's latest shenanigans with the Nord Stream gas supply and another spike in gas prices today, we'll need a crystal ball as to what the fix will be in October.

EDF's fixes have been climbing month by month, I fixed at a gas unit price of 9.692p on their May24v4 tariff, SC also 27.22p

What_time_is_it

I signed up with GE a couple of days ago with a fixed rate deal until September 30th 2023. Gas is at 11.75p per unit.
However, I'm seriously considering cancelling that and taking up the EDF 2 year fix instead. Gas is at 13p per unit, but crucially this would cover the next 2 winters.
It's so hard to make an informed decision.

spot1034

What_time_is_it said:

I signed up with GE a couple of days ago with a fixed rate deal until September 30th 2023. Gas is at 11.75p per unit.
However, I'm seriously considering cancelling that and taking up the EDF 2 year fix instead. Gas is at 13p per unit, but crucially this would cover the next 2 winters.
It's so hard to make an informed decision.

You have to make the decision to pay more than necessary for a whole year, and where we might be a year from now is a complete unknown, and the crucial bit would be looking ahead rather than prices as they stand then. 

Hopefully this has been a huge shock to politicians who have let this situation come about, and they will be moving as fast as they can over the next year to undo the damage they have done. Then there's Russia and whether Putin will still be in his job or whether he will be long gone with a new regime that tries to undo some of the damage he's done. 

So many unknowns. There is no information which could help you make an informed decision. It's all guesswork.

Foxyuk13

This is July 24 fox for me !!!!!! 

lisyloo

I've just taken this today with code 150EXCLUSIVE (note the code box comes up quite early in the process).
Bad news out today (see sky news etc.)
Only my opinion but I would bit their arm off before it gets withdrawn.
You can always exit if something unexpected happens.

pochase

lisyloo said:

I've just taken this today with code 150EXCLUSIVE (note the code box comes up quite early in the process).
Bad news out today (see sky news etc.)
Only my opinion but I would bit their arm off before it gets withdrawn.
You can always exit if something unexpected happens.

Exactly my thinking. With the news yesterday most tariffs will be withdrawn and reappear a few pence more expensive.