Shocking advice from EDF - "best off staying on the SVR as it's the cheapest rate at the moment"

What_time_is_it

When I spoke to EDF today about their fixed term offers I was shocked to hear them recommending that I stay on the SVR because "it's the cheapest rate at the moment".
The person I spoke to seemed totally oblivious to the upcoming rises in the price cap. When I pointed out the comparison is not between TODAY'S SVR v the fix, but between the PREDICTED SVR vs the fix, she said the price cap could go up or down in October.

Plus, the whole conversation was done on the basis of monthly DDs instead of unit rates. 

Deliberately misleading and shockingly rubbish advice.

MattMattMattUK

What_time_is_it said:

When I spoke to EDF today about their fixed term offers I was shocked to hear them recommending that I stay on the SVR because "it's the cheapest rate at the moment".

It is the cheapest at the moment, that is factally correct.

What_time_is_it said:

The person I spoke to seemed totally oblivious to the upcoming rises in the price cap. When I pointed out the comparison is not between TODAY'S SVR v the fix, but between the PREDICTED SVR vs the fix, she said the price cap could go up or down in October.

The current EDF fixes are already above the predicted October SVR price rises. The cap based on current calculations cannot go down, although the government could in theory change the methodology.

What_time_is_it said:

Plus, the whole conversation was done on the basis of monthly DDs instead of unit rates. 

Ok, not great for the well informed, but then the well informed are unlikely to phone up EDF for a chat.

What_time_is_it said:

Deliberately misleading and shockingly rubbish advice.

The only part that was misleading was the statement that the cap could go down in October and I suspect that was incompetence rather than being deliberate. The advice to stay on the SVR was actually good advice, Martin Lewis is currently giving the same advice.

What_time_is_it

MattMattMattUK said:

What_time_is_it said:

When I spoke to EDF today about their fixed term offers I was shocked to hear them recommending that I stay on the SVR because "it's the cheapest rate at the moment".

It is the cheapest at the moment, that is factally correct.

What_time_is_it said:

The person I spoke to seemed totally oblivious to the upcoming rises in the price cap. When I pointed out the comparison is not between TODAY'S SVR v the fix, but between the PREDICTED SVR vs the fix, she said the price cap could go up or down in October.

The current EDF fixes are already above the predicted October SVR price rises. The cap based on current calculations cannot go down, although the government could in theory change the methodology.

What_time_is_it said:

Plus, the whole conversation was done on the basis of monthly DDs instead of unit rates. 

Ok, not great for the well informed, but then the well informed are unlikely to phone up EDF for a chat.

What_time_is_it said:

Deliberately misleading and shockingly rubbish advice.

The only part that was misleading was the statement that the cap could go down in October and I suspect that was incompetence rather than being deliberate. The advice to stay on the SVR was actually good advice, Martin Lewis is currently giving the same advice.

I strongly disagree.
The SVR will almost certainly be more expensive over this winter than the fix that they are offering. And, more importantly, they know this.

MattMattMattUK

What_time_is_it said:

MattMattMattUK said:

What_time_is_it said:

When I spoke to EDF today about their fixed term offers I was shocked to hear them recommending that I stay on the SVR because "it's the cheapest rate at the moment".

It is the cheapest at the moment, that is factally correct.

What_time_is_it said:

The person I spoke to seemed totally oblivious to the upcoming rises in the price cap. When I pointed out the comparison is not between TODAY'S SVR v the fix, but between the PREDICTED SVR vs the fix, she said the price cap could go up or down in October.

The current EDF fixes are already above the predicted October SVR price rises. The cap based on current calculations cannot go down, although the government could in theory change the methodology.

What_time_is_it said:

Plus, the whole conversation was done on the basis of monthly DDs instead of unit rates. 

Ok, not great for the well informed, but then the well informed are unlikely to phone up EDF for a chat.

What_time_is_it said:

Deliberately misleading and shockingly rubbish advice.

The only part that was misleading was the statement that the cap could go down in October and I suspect that was incompetence rather than being deliberate. The advice to stay on the SVR was actually good advice, Martin Lewis is currently giving the same advice.

I strongly disagree.
The SVR will almost certainly be more expensive over this winter than the fix that they are offering. And, more importantly, they know this.

If you disagree then take the fixed tariff, you can do that online, no need to speak to anyone. However disagreeing with their advice does not make their advice "shocking" unless you feel the advice from Martin Lewis and most other consumer advice experts is also "shocking".

Evan3020

I am not shocked

QrizB

Evan3020 said:

I am not shocked

I'm as shocked as Captain Renault was in Casablanca:

Reed_Richards

When I try to get a quote from EDF I get

We're sorry we can't offer you a quote online today
 
Due to ongoing energy market volatility we don’t have any fixed energy tariff deals available.

Presumably if you are already an EDF customer you can get fixed tariff deal but how am I to know if this is good or bad?

[Deleted User]

What_time_is_it said:

Deliberately misleading and shockingly rubbish advice.

Hi,

so you'll be looking for a switch now?

pochase

Reed_Richards said:

When I try to get a quote from EDF I get

We're sorry we can't offer you a quote online today
 
Due to ongoing energy market volatility we don’t have any fixed energy tariff deals available.

Presumably if you are already an EDF customer you can get fixed tariff deal but how am I to know if this is good or bad?

You don't. And if you join them on SVT it is not even sure they will offer you a fixed tariff or what it will be.

It seems the fixed tariffs EDF offers to existing customers are a bit random. What I have seen offered to me in May was much more expensive than some of the good fixes mentioned here. Might be because I was already on a much better fixed tariff

What_time_is_it

frugalmacdugal said:

What_time_is_it said:

Deliberately misleading and shockingly rubbish advice.

Hi,

so you'll be looking for a switch now?

I've already signed up with GE and I'm in their cooling off period.

funny.money

pochase said:

Reed_Richards said:

When I try to get a quote from EDF I get

We're sorry we can't offer you a quote online today
 
Due to ongoing energy market volatility we don’t have any fixed energy tariff deals available.

Presumably if you are already an EDF customer you can get fixed tariff deal but how am I to know if this is good or bad?

You don't. And if you join them on SVT it is not even sure they will offer you a fixed tariff or what it will be.

It seems the fixed tariffs EDF offers to existing customers are a bit random. What I have seen offered to me in May was much more expensive than some of the good fixes mentioned here. Might be because I was already on a much better fixed tariff

I took this May fix from EDF 

Electric SC 37.92
Unit 35.52

Gas SC 27.22
Unit 9.74

Are you saying there are better deals now?