Stick with EDF fix or move to standard rate for energy?

kyorin

itzmee said:

I have just switched from EDF Fix Total Service Jul23v3 to the Essentials Exclusive tariff.  I worked out that I would pay over £900 more if I didn't switch, so even with the exit fees of £300 I will still be saving over £600 in the next year, however I was given £150 credit when I initially signed up so it's not that bad a loss.  I also have the peace of mind that the costs are not much different to the current variable rate and will be fixed during the next year.

New rates: 

Electricity unit rate: 29.74p per kWh
Daily standing charge: 53.96p per day

Gas unit rate: 7.619p per kWh
Daily standing charge: 29.11p per day


Previous rates:

Electricity unit rate: 41.55p per kWh
Daily standing charge: 48.13p per day

Gas unit rate: 13.059p per kWh
Daily standing charge: 27.22p per day 

Sadly it's not so clear-cut for me. If I pay the £300 exit fee and then go for the "Essentials Exclusive" tarrif, the overall cost is virtually identical over the year as the fix I'm currently on, (about £5 difference). Prices are expected to drop again in October, so I'm reluctant to sign up for another fix with massive exit fees, or I may find myself in the same situation all over again if the price drops, and the only way to get the better pricing would be to pay another £300...

I have to get off the tarrif I'm on of course, but its difficult to know whether to fix, or just go with the ever so slightly cheaper standard tarrif.

Spartan_117

I switched over from the expensive "EDF Jun 24 fix" to the new "EDF Essentials" yesterday without phoning or online chatting to anyone. New rates have updated online and have new contract but no mention of the exit fee in my list of activity on their website portal (2x £100). Maybe it all comes out in the wash on next bill (weird 6 monthly EDF!).

In my case I would be paying £900 extra over the next year if I stuck with old pre-October expensive fix.

kyorin

Spartan_117 said:

I switched over from the expensive "EDF Jun 24 fix" to the new "EDF Essentials" yesterday without phoning or online chatting to anyone. New rates have updated online and have new contract but no mention of the exit fee in my list of activity on their website portal (2x £100). Maybe it all comes out in the wash on next bill (weird 6 monthly EDF!).

In my case I would be paying £900 extra over the next year if I stuck with old pre-October expensive fix.

I called EDF, and they confirmed that I would have to pay the exit fees if I switched from my current fix to either the new fix or the SVT 🙁

brewerdave

Spartan_117 said:

I switched over from the expensive "EDF Jun 24 fix" to the new "EDF Essentials" yesterday without phoning or online chatting to anyone. New rates have updated online and have new contract but no mention of the exit fee in my list of activity on their website portal (2x £100). Maybe it all comes out in the wash on next bill (weird 6 monthly EDF!).

In my case I would be paying £900 extra over the next year if I stuck with old pre-October expensive fix.

The only place that I can see that the exit fee has been charged is on the running balance on the app. Not shown as a debit anywhere. Nothing on the webpage or in the emails I received