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

pochase

No, I am saying that I was offered worse fixes in May than you got.

But I am on a better tariff that started in March.

funny.money

pochase said:

No, I am saying that I was offered worse fixes in May than you got.

But I am on a better tariff that started in March.

Sorry,  I misunderstood. 

What_time_is_it

Considering that EDF have today pulled their best fixed rate deal, I stand by my claim yesterday.
The advice they gave was shocking. They lied. Total scum.

EssexHebridean

If it was that good, and you were aware that they were lying (which clearly you were) would you not have been better taking the fix (by going online, as said) than posting here berating them for providing you with mostly factual - albeit "shocking" - information?

[Deleted User]

Hi,

how did your GE prices compare to EDF  fix and SVR, might help others?

What_time_is_it

EssexHebridean said:

If it was that good, and you were aware that they were lying (which clearly you were) would you not have been better taking the fix (by going online, as said) than posting here berating them for providing you with mostly factual - albeit "shocking" - information?

I've been weighing it up for about a week now - SVR with EDF vs EDF 2 year fix vs Green Energy 1 year fix. I signed up with Green Energy and I am in their cooling off period. I called EDF to ensure that the rates offered online were the best they could offer. I KNEW they were lying, because I've been frantically working on spreadsheets trying to figure out the best option for me and my wider family. But I know that there will have been others who called them yesterday who won't have put as much time in as I have and who have been told the same thing - stay on the SVR. I think it's immoral and disgusting.

These are complex decisions and we need to be given better, more reliable, information in order to make informed choices. These are life-changing decisions for millions. So, yes, I will berate EDF for providing "factual" but massively misleading information.

I still have my fix rate deal with Green Energy. Worse than some people, better than some people, but, yes, my decision.

What_time_is_it

frugalmacdugal said:

Hi,

how did your GE prices compare to EDF  fix and SVR, might help others?

GE prices were marginally better than EDF. But the GE fix is only until September 2023, whereas EDF were offering a 2 year fix until July 2024. Comparing these 2 against the best guestimates for the SVR over the next 2 years is not easy!

GE (1 year)
Gas 11.75p per unit / 31.31p SC
Elec 40.2p per unit / 41.65p SC

EDF (2 years but now pulled anyway)
Gas 13.023p / 0.2722p
Elec 43.05p / 41.66p

SVR (estimates)
Gas 15p from October rising to 16p from January, and who knows what after that / standing charges may not rise too much or may even go down with political pressure?
Elec 45p from October, 50p from January, god knows after that
Could go down at some point, will probably go up. ????

si_74

funny.money said:

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?

I took a very similar deal to this in June with EDF. Agonised over it a bit, particularly due to the £150/fuel exit fee. But it has turned out to be a wise move. I have seen nothing better since. Be happy with your decision. 

Chrysalis

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".
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.

I had the same issue when trying to get Agile on the phone, the lady was just concerned about "current" prices.  Luckily Agile can be done online so I switched it online.