EDF Online tariffs losing ground now?

jem16

For the last 2 years I have been on London Energy's Online (now EDF) v3.1 tariff. It has been a cracker of a tariff and nothing could beat it. I have saved around £300 each year by being on it.

However since EDF have taken over I have noticed a gradual change. Last summer, when everyone else was lowering prices, the gas tariff was increased by around 10% - even so it was still the cheapest tariff at that point.

Having read about the likelihood of increases next year and the mention of S&S Energy group and their price fix until end Nov 2008 being good, I did a price comaprison. Only British Gas and Click Energy 4 beat my tariff and only by £40 - probably not worth it as BG will put up their price soon I'd imagine.

Hydro Electric (S&S Energy) Price Fix 2008 is £4.36 dearer but I should get £30 cashback from MoneySupermarket.com.

Is it worth changing and avoiding a likely price rise by EDF?

Terrylw1

Hard to say. BGas have announced a price rise from Jan anyway so you would have to be careful there.

£4.36 is not a lot if it's over a year. Npower have also announced an increase so they may all follow suit.

Worth noting that when these companies predict a price increase, they invent these price freeze tariffs.

Cardew

Terry,
Over 2 years ago there was a long thread about the merits/demerits of the BG fixed to April 30 2010 tariff that had been announced.

That tariff had increased prices and penalty clauses for leaving early.

The debate raged and Jem16 gambled on the EDF v3.1 tariff(was London Energy) and others(including myself) on BG.

There is no doubt that initially the EDF tariff 'went ahead on points' particularly in Scotland where she lives. For some inexplicable reason EDF didn't bring that particular tariff into line with their other versions of their internet tariff.

However that advantage(over BG2010) was eroded and prices are now higher than BG.
IIRC on a heavy consumption Jem16 was intially saving £300pa in late 2005 which had reduced to about £100pa by summer 2006. So I would guess that overall savings are about zero now.

I would add that in my region(Midlands) the EDF tariff did not have the same initial advantage that it did in Scotland and the BG tariff has been far and away the better bet.

The big advantage of the latest SE 2008 offer is that there are no penalties for leaving early in the unlikely event of prices dropping below that tariff.

At the end of the day all fixed/capped price tariffs are a gamble, although this one looks a better bet than usual IMO.

computerwoman

ok my friend and I both went with different firms he is with EDF and I with Ebico we have done a comparison over the past year
my bills
electric
132.20april
105.53august
102.50december
I get my bills every 4 months so this is for the year december-december
gas
141.02 april
55.83 august
59.47 december
his bills have been afew quid cheaper than mine but not really enough to change over...I hope this helps...I pay by DD 40.00 amonth electric and 30.00 amonth gas and I am well in front so if I need to use it more now I feel I wont be going over my budget...also it was on the news last month that everyone will be putting there prices up in january:D

jem16

Cardew wrote: »

However that advantage(over BG2010) was eroded and prices are now higher than BG.

Do you have those BG prices - just like to compare them again.

IIRC on a heavy consumption Jem16 was intially saving £300pa in late 2005 which had reduced to about £100pa by summer 2006. So I would guess that overall savings are about zero now.

There has only been two price rises since I switched. The one you mention was around the end of August 2006. The 2nd one was in August 2007 where gas was put up about 10% but electricity remained the same. So on my consumption that was an extra £42. So I should still be slightly ahead.

The big advantage of the latest SE 2008 offer is that there are no penalties for leaving early in the unlikely event of prices dropping below that tariff.

Thanks for that.

At the end of the day all fixed/capped price tariffs are a gamble, although this one looks a better bet than usual IMO.

Yes it looked a decent bet. I'd pay around £4.36 more over the year but get back £30 from cashback so I should gain.

I was just about to go for it when my broadband went down last night - still down so I'm having to login from work. I'll have a look now before they pull this one off.