Notification of Price Change

winter02

My EDF Fixed tariff will be increasing on the 1st July as will no longer be protected by the EPG.
I have received no communication from them to notify me of this and I was under the impression that under the licence condition all price changes should be communicated to customers individually?
The website says that they writing to all customers to let them know how the price cap impacts them.
Do anyone if they should have informed me of this? Thanks

Ayr_Rage

Your fixed tariff rates will not be increasing.

The price you pay will revert to the rates you agreed when taking out the fix as the EPG is no longer applicable.

CSI_Yorkshire

winter02 said:

My EDF Fixed tariff will be increasing on the 1st July as will no longer be protected by the EPG.

So it isn't a price change then.

The government has just stopped paying part of the bill for you.

[Deleted User]

I was under the impression that under the licence condition all price changes should be communicated to customers individually?

Only if the change is going to cost you more. 

winter02

CSI_Yorkshire said:

winter02 said:

My EDF Fixed tariff will be increasing on the 1st July as will no longer be protected by the EPG.

So it isn't a price change then.

The government has just stopped paying part of the bill for you.

The rates I pay now are changing from the 1st July. 

winter02

[Deleted User] said:

I was under the impression that under the licence condition all price changes should be communicated to customers individually?

Only if the change is going to cost you more. 

I'll be paying more than I do now from the 1st July. 

CSI_Yorkshire

winter02 said:

CSI_Yorkshire said:

winter02 said:

My EDF Fixed tariff will be increasing on the 1st July as will no longer be protected by the EPG.

So it isn't a price change then.

The government has just stopped paying part of the bill for you.

The rates I pay now are changing from the 1st July. 

They are not.

The rate that you are being charged is the same.  Under the EPG, the government was paying part of the rate.  They are not paying part of the rate, so you are paying the whole amount, which is the amount you signed up to pay.

MWT

This is why many, if not all, suppliers have been showing the actual units rates on the bills with a deduction for the Government support.

On the bill, the support will be gone and the rates unchanged.

Ayr_Rage

EDF emailed this to me today at 1316

The government’s Energy Price Guarantee 1 was introduced on 1 October 2022 to help reduce the impact of increasing energy costs.

From 1 July 2023, the discount is no longer being applied to customers on fixed tariffs. This means your prices will return to the rates you first agreed, when you chose your fixed tariff with us

There’s nothing more you need to do.

brewerdave

Ayr_Rage said:

EDF emailed this to me today at 1316

The government’s Energy Price Guarantee 1 was introduced on 1 October 2022 to help reduce the impact of increasing energy costs.

From 1 July 2023, the discount is no longer being applied to customers on fixed tariffs. This means your prices will return to the rates you first agreed, when you chose your fixed tariff with us

There’s nothing more you need to do.

IF you want to pay considerably more to us over the next x months !!

Scot_39

Fixes are called fixes for a reason.

Note the wording in EDF notice "your prices will return to the rates you first agreed".

If you accept a fix with a HARD exit penalty - one where the fee always applies - that's the contract you agreed to.

Some people posting here have worked out cheaper to ditch some EDF fixes with a long time to run despite fees - but iirc dates were months away (Oct or Nov springs to mind - but I would have to search).

So sit down work out the costs on old fix rates vs new lower svt rates - like thry have - and see how many months of summer and autumn use to cover the exit fees - and think do you want to ditch fix if that's earlier than fix end date.

Not all fixes are HARD like that - more than one supplier normally allows people to exit fixes onto SVT or even other fixes - in the past and even now - without fees - 'SOFT' by analogy.  The fees only applying if swap supplier.

So for instance taking 2 current fixes seeing posts here at MSE forums, the EOn loyalty series appear 'SOFT' exit fee based, Octopus iirc some of the posts on it 'HARD'.

Edit : Just been advised of another variation - on the hard soft spectrum, for British Gas fix in that thread .
"If you move to another fixed tariff with us, there are no exit fees."

It's a very important distinction - and should arguably form part of the consumers risk reward decision making process - to fix or not.