Edf!!!!

[Deleted User]

Robgmun said:

[Deleted User] said:

Robgmun said:

QrizB said:

Your previous thread in July was also about EDF:
https://forums.moneysavingexpert.com/discussion/6371916/edf-think-they-trying-to-rip-people-off/p1

At that time they were asking £324.

You were given good advice then, including that you should consider a switch to GEUK. That ship has sailed and it seems you're now stuck with EDF.

Although the original OP's attitude sucks, (in that we're trying to help him but doesn't even answer basic questions)

I do think EDF are a bunch of scam merchants and need to be watched like a hawk so that they don't rip you off. The time of taking fixed rates was long gone, and it now looks like they're not fixed anyway, lol, what a bunch of scam artists. 

I'm paying £210 at the moment with about £300 in debt, i've managed to reduce my usage to about £90 for the month of Sept, (if we keep to 8kwh per day) which was rise to about 170 post Oct, with the £400 handout, that's £67 off per month so it stays at £100 per month. So by the next bill comes in Feb i hope to be £300 in credit. Yes of course it wont be enough to cover the bill entirely but if we continue down this road by the end of 2023 we'll be in credit enough to cover the whole bill as they comes in

What's made you decide that fixed rates are "not fixed anyway, lol"?

Has your unit price actually changed during a fixed rate deal (and you would of course have good evidence to prove it) or are you just making things up?

Well, if he said he fixed his prices but he now says they want to rise it, and someone else said it's not a "all-you-eat buffet" then by that very definition it isn't fixed. How is that any better than being on DD? Sure the tariffs are fixed but if the OP is an idiot and not willing to hear advice on how to cut down on usage then it's people like him who suffer with pre-payment meters and be forever paying through the nose.

His price hasn't changed (as far as any evidence suggests) - so by that very definition it is fixed.  What other definition is there?

jj_43

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

Welcome to the energy industry! They don’t understand customers.

You intended to fix to be sure your price would not change for the two years, so you could have a fixed budget I assume (as your usage would not change). Then the end result is they increase your costs?

A question for your energy supplier is why they didn’t state your fix based on your latest usage, eg, ask for your reads before giving you the £310.

I would ask why you have decided to fix, energy prices have been extremely high in the last two weeks, fixing at the highest prices ever, rather than hedging is not a good approach and your taking a lot of risk. Instead SVT is hedged and give you a free option thus reducing your risk. 

[Deleted User]

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

You intended to fix to be sure your price would not change for the two years, so you could have a fixed budget I assume (as your usage would not change). Then the end result is they increase your costs?

Much usage is weather driven.  Usage will change from year to year.

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

A question for your energy supplier is why they didn’t state your fix based on your latest usage, eg, ask for your reads before giving you the £310.

Fixed DD isn't based on historic usage, it's based on predicted future usage of which historic data is only one part.

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

I would ask why you have decided to fix, energy prices have been extremely high in the last two weeks, fixing at the highest prices ever, rather than hedging is not a good approach and your taking a lot of risk. Instead SVT is hedged and give you a free option thus reducing your risk. 

Many small suppliers went bust, in part, because they offered fixed tariffs at an effective cost too low to cover their hedged supply.  Anyone taking those fixes, or many of the other fixes offered in the past few months, has been at substantial benefit compared to being on the SVT.  As an example, people have fixed at 35 or 40 p/kWh when, if on SVT, they could be paying 70, 80 or 90 p/kWh in some of the coldest (and highest usage) times of the year.  

poppellerant

Cut your cloth to suit, it's as simple as that.  For example, if you stick the heating on because people complain they are cold while walking around with barely no clothes on, tell them to wrap up before considering putting the heating on.  Go around the house turning things off that don't need to be on.

Obviously if you can afford to waste your money, then go ahead.  But, going from your posts, you clearly need to change your habits.

The_Fat_Controller

@Joeuk48 when did you take your fix and what EXACTLY is the name of that fix, the unit rates and standing charges ?

What is your latest estimated annual usage from the EDF website ?

You can find those on the "Change Tariff" page, click on MORE DETAILS of the offered tariffs (only SV appears for me) and the figures are on the top RHS.

PS Is your !!!!!!!!!!!!!!!!!!!!!!!!!!!!!! key stuck ?

Robin9

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

EDF does a DD review every 6 months. if you have used more than you originally said you would then the DD will go up; if you have used less then the DD will go down.

EDF's online statements are not very clear -  what is shown as a credit of £90 is the balance from your last bill plus DD'd made - it does not include the cost of the energy used in that period.

Are you keeping a simple spreadsheet and doing some sums to see where you actually are ?

Janie2008

Joeuk48 said:

They have one at the moment I’d check again 

I have, mine still says none available

jj_43

[Deleted User] said:

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

You intended to fix to be sure your price would not change for the two years, so you could have a fixed budget I assume (as your usage would not change). Then the end result is they increase your costs?

Much usage is weather driven.  Usage will change from year to year.

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

A question for your energy supplier is why they didn’t state your fix based on your latest usage, eg, ask for your reads before giving you the £310.

Fixed DD isn't based on historic usage, it's based on predicted future usage of which historic data is only one part.

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

I would ask why you have decided to fix, energy prices have been extremely high in the last two weeks, fixing at the highest prices ever, rather than hedging is not a good approach and your taking a lot of risk. Instead SVT is hedged and give you a free option thus reducing your risk. 

Many small suppliers went bust, in part, because they offered fixed tariffs at an effective cost too low to cover their hedged supply.  Anyone taking those fixes, or many of the other fixes offered in the past few months, has been at substantial benefit compared to being on the SVT.  As an example, people have fixed at 35 or 40 p/kWh when, if on SVT, they could be paying 70, 80 or 90 p/kWh in some of the coldest (and highest usage) times of the year.  

you don't need to comment on everything i say, clearly we think differently.

i know everything about fixed DD, some direct debit assessments are good (Octopus), some are bad (British Gas), there are a variety of ways to determine direct debit amounts from the more accurate (Octopus) who use industry data, and other ways such as proxies of usage (no. of bedrooms), clearly energy usage for a 2 bedroom property can differ greatly.

On your final point your doing Captain Hindsight again. Many small suppliers went bust because energy costs increased 10 fold and they didn't have the experience, knowledge or understanding of how to manage the risks of hedging, perhaps some also didn't know how to price. There will become a time when fixes are better than SVT, however not in a rising market, and your giving comparisons that were not available at the same time.

[Deleted User]

jj_43 said:

[Deleted User] said:

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

You intended to fix to be sure your price would not change for the two years, so you could have a fixed budget I assume (as your usage would not change). Then the end result is they increase your costs?

Much usage is weather driven.  Usage will change from year to year.

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

A question for your energy supplier is why they didn’t state your fix based on your latest usage, eg, ask for your reads before giving you the £310.

Fixed DD isn't based on historic usage, it's based on predicted future usage of which historic data is only one part.

jj_43 said:

Joeuk48 said:

So I signed up for the £310 2 year fixed price and just sent my readings and now they are saying that my DD will be £334 can they do this?

I would ask why you have decided to fix, energy prices have been extremely high in the last two weeks, fixing at the highest prices ever, rather than hedging is not a good approach and your taking a lot of risk. Instead SVT is hedged and give you a free option thus reducing your risk. 

Many small suppliers went bust, in part, because they offered fixed tariffs at an effective cost too low to cover their hedged supply.  Anyone taking those fixes, or many of the other fixes offered in the past few months, has been at substantial benefit compared to being on the SVT.  As an example, people have fixed at 35 or 40 p/kWh when, if on SVT, they could be paying 70, 80 or 90 p/kWh in some of the coldest (and highest usage) times of the year.  

you don't need to comment on everything i say, clearly we think differently.

i know everything about fixed DD, some direct debit assessments are good (Octopus), some are bad (British Gas), there are a variety of ways to determine direct debit amounts from the more accurate (Octopus) who use industry data, and other ways such as proxies of usage (no. of bedrooms), clearly energy usage for a 2 bedroom property can differ greatly.

On your final point your doing Captain Hindsight again. Many small suppliers went bust because energy costs increased 10 fold and they didn't have the experience, knowledge or understanding of how to manage the risks of hedging, perhaps some also didn't know how to price. There will become a time when fixes are better than SVT, however not in a rising market, and your giving comparisons that were not available at the same time.

If we think differently. isn't it more important that we both comment, then people can see both opinions and make their own mind up?  Or are you suggesting that if one of us sees a thread first, then the other should be banned from posting?

If you know everything about fixed DD, your answer to the OPs question was misleading at best.  They even say "just sent my readings" - so giving advice that says "why didn't they ask for your reads" seems a little pointless.

And your final nonsensical advice that you've scattered everywhere here - "under no circumstances ever fix, always stay on the SVT" - even your arguments against it actually support the point that fixing can be sometimes a good idea.  Fixes are often better than SVT in a rising market, as the customer wins if the true rise turns out to be faster than the rise built into the fix - which has been true for most of the last six months.  Fixing in a falling market is riskier, because the fixes on offer will deliberately underestimate the fall.