EDF FIX ends 31/1/23 - Stick/Twist/ Dunno

deejaybee

Hi all,

Been fortunate for a while during this energy crisis to be on a cheap fix which ends 31/1/23 ( just good luck not good judgement on my part )

So currently : Elec : 17.74 / 24.59 daily SC  /  Gas : 3.086 / 26.08 daily SC    ( Easy Online 2 year fix Jan 23 )

Annual consumption : Elec: 1563 KWH / Gas : 6598 KWH.

I have been paying £68 per month, but recently they repaid me a credit i had built up of £195, and D/D going up to £81 from September.

Just had a look at what other tariffs are currently available:

STANDARD VARIABLE -  Elec : 28.41 / 51.62 daily SC  /  Gas : 7.476  / 27.22 daily SC    ( £103 per month )

TOTAL LONGTERM - 31/8/24   - Elec : 68.96  / 51.62 daily SC  / Gas : 23.05 / 27.22 daily SC   ( £241 per month )

I realise the standard variable goes up / down with price cap - and the Total longterm looks horrific but i know reflects the reality that i havnt had to face yet :-(

Dunno whether to stay on my cheap fix till 31/1/23 ( exit fees are 15.00 for each fuel )  or jump now......

For context i am in a 2 bed flat with GAS CH & Water Heating, usually mild winter weather down here.

EDIT - Seen mentions of EDF discount code ( £150 ?  )  - is that for existing customers as well ? 

Thanks

Mstty

Most people don't take out a credit this close to winter especially with what's happening to the energy market and prices it softens the blow.

That aside the fix looks expensive but no one really knows what is going to be announced on 25th August by Ofgem regarding the October price cap and then no one knows what the new PM will do with an emergency budget after taking their seat on 5th September.

£238 a month roughly for that new fix 

I would personally stick on your current fix and see it out and put money aside for your Feb payment.(Knowing you have at least £400 coming from the government from October) most suspect more help is also on its way.

But the choose is yours 

deejaybee

Thanks Mstty

Yep re the credit, i didnt request it, was just advised by them that it would be paid into my bank account on a certain date, i was happy for it to build up as a "buffer" for when fix ends, but to be honest it came in handy as i had paid my self-assessment tax money !

I am leaning towards staying on the fix till end Jan, then take my chances.

pochase

You have an excellent fix that will get you through a good part of winter.

There is no chance you will find a fix that works out cheaper if you have to start paying now, and I doubt any chance they will ley you take it and only start paying in February.