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EDF Essentials Exclusive

nrmsmith
nrmsmith Forumite Posts: 56
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Currently on std tariff paying 7.37p per unit for gas with EDF. Been offered a fix at 7.57p per unit (same SC) until Jul24. Worth a punt?

obviously depends on what will happen in Jan24 as I’m not using any gas at present.  
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  • MattMattMattUK
    MattMattMattUK Forumite Posts: 7,235
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    nrmsmith said:
    Currently on std tariff paying 7.37p per unit for gas with EDF. Been offered a fix at 7.57p per unit (same SC) until Jul24. Worth a punt?

    obviously depends on what will happen in Jan24 as I’m not using any gas at present.  
    That depends on your appetite for risk vs certainty, none of us can tell you because none of us know that. 
  • cinders59
    cinders59 Forumite Posts: 7,565
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    My fixed 2 yr tariff with EDF just ended, my DD has gome up from £96 to £170, they have put me on Standard Variable : 


    Electricity unit rate: 30.22p per kWh
    Daily standing charge: 53.83p per day

    Gas unit rate: 7.664p per kWh
    Daily standing charge: 29.11p per day

    Is it worth going onto their fixed 1 year Tariff with 

    EDF Energy
    Essentials Exclusive Jul24
    Fixed for 12 months

    - £2,100 a year
    - £150 dual-fuel exit fees

    Fixed rate breakdown
    Electricity - 30.33p unit rate
    Standing charge - 53.83p

    Gas - 7.860p unit rate
    Standing Charge - 29.11p

    To me all I can see is there is no benefit to fix , as the rates are dearer, yes EDF says my monthly paymenst will reduce to £156 a month
    Thanks to all who post comps :)
    ITV winners membersclub#2
  • TheMilkmansDad
    TheMilkmansDad Forumite Posts: 610
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    cinders59 said:
    My fixed 2 yr tariff with EDF just ended, my DD has gome up from £96 to £170, they have put me on Standard Variable : 


    Electricity unit rate: 30.22p per kWh
    Daily standing charge: 53.83p per day

    Gas unit rate: 7.664p per kWh
    Daily standing charge: 29.11p per day

    Is it worth going onto their fixed 1 year Tariff with 

    EDF Energy
    Essentials Exclusive Jul24
    Fixed for 12 months

    - £2,100 a year
    - £150 dual-fuel exit fees

    Fixed rate breakdown
    Electricity - 30.33p unit rate
    Standing charge - 53.83p

    Gas - 7.860p unit rate
    Standing Charge - 29.11p

    To me all I can see is there is no benefit to fix , as the rates are dearer, yes EDF says my monthly paymenst will reduce to £156 a month
    ignore the DD and do your own maths. Find out how much KwH you've used the last year and compare the 2. Your current DD - are you currently in Debit or credit - your quote for new DD mat not include your current account balance.
  • Dolor
    Dolor Forumite Posts: 7,602
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    To me all I can see is there is no benefit to fix , as the rates are dearer, yes EDF says my monthly paymenst will reduce to £156 a month
    People go for fixed deals because they offer price certainty for a given period of time. There is no guarantee that prices will remain stable this coming Winter despite what economists might say. We live in an uncertain World. 
  • cinders59
    cinders59 Forumite Posts: 7,565
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    cinders59 said:
    My fixed 2 yr tariff with EDF just ended, my DD has gome up from £96 to £170, they have put me on Standard Variable : 


    Electricity unit rate: 30.22p per kWh
    Daily standing charge: 53.83p per day

    Gas unit rate: 7.664p per kWh
    Daily standing charge: 29.11p per day

    Is it worth going onto their fixed 1 year Tariff with 

    EDF Energy
    Essentials Exclusive Jul24
    Fixed for 12 months

    - £2,100 a year
    - £150 dual-fuel exit fees

    Fixed rate breakdown
    Electricity - 30.33p unit rate
    Standing charge - 53.83p

    Gas - 7.860p unit rate
    Standing Charge - 29.11p

    To me all I can see is there is no benefit to fix , as the rates are dearer, yes EDF says my monthly paymenst will reduce to £156 a month
    ignore the DD and do your own maths. Find out how much KwH you've used the last year and compare the 2. Your current DD - are you currently in Debit or credit - your quote for new DD mat not include your current account balance.
    I am in credit by £407 after paying my 6 monthly bill 23 May 
    Thanks to all who post comps :)
    ITV winners membersclub#2
  • cinders59
    cinders59 Forumite Posts: 7,565
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    Dolor said:
    To me all I can see is there is no benefit to fix , as the rates are dearer, yes EDF says my monthly paymenst will reduce to £156 a month
    People go for fixed deals because they offer price certainty for a given period of time. There is no guarantee that prices will remain stable this coming Winter despite what economists might say. We live in an uncertain World. 
    Yes, with winter coming, may be best to make sure of fixed prices 
    Thanks to all who post comps :)
    ITV winners membersclub#2
  • bristolleedsfan
    bristolleedsfan Forumite Posts: 11,674
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    edited 4 July at 11:41AM
    cinders59 said:
    Dolor said:
    To me all I can see is there is no benefit to fix , as the rates are dearer, yes EDF says my monthly paymenst will reduce to £156 a month
    People go for fixed deals because they offer price certainty for a given period of time. There is no guarantee that prices will remain stable this coming Winter despite what economists might say. We live in an uncertain World. 
    Yes, with winter coming, may be best to make sure of fixed prices 
    Dolor maybe should add a disclaimer that he is neither on a fixed rate or a tariff with exit fees 

    Exit fees that get charged for change of tariff unlike British Gas/Eon Next some suggestion to wait and see if cheaper fix is offered August/September ish time
  • cinders59
    cinders59 Forumite Posts: 7,565
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    cinders59 said:
    Dolor said:
    To me all I can see is there is no benefit to fix , as the rates are dearer, yes EDF says my monthly paymenst will reduce to £156 a month
    People go for fixed deals because they offer price certainty for a given period of time. There is no guarantee that prices will remain stable this coming Winter despite what economists might say. We live in an uncertain World. 
    Yes, with winter coming, may be best to make sure of fixed prices 
    Dolor maybe should add a disclaimer that he is neither on a fixed rate or a tariff with exit fees 

    Exit fees that get charged for change of tariff unlike British Gas/Eon Next some suggestion to wait and see if cheaper fix is offered August/September ish time
    Thanks
    I am thinking maybe wait a month or so just to see what happens
    Thanks to all who post comps :)
    ITV winners membersclub#2
  • itzmee
    itzmee Forumite Posts: 398
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    edited 4 July at 12:04PM
    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 
  • Dolor
    Dolor Forumite Posts: 7,602
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    cinders59 said:
    Dolor said:
    To me all I can see is there is no benefit to fix , as the rates are dearer, yes EDF says my monthly paymenst will reduce to £156 a month
    People go for fixed deals because they offer price certainty for a given period of time. There is no guarantee that prices will remain stable this coming Winter despite what economists might say. We live in an uncertain World. 
    Yes, with winter coming, may be best to make sure of fixed prices 
    Dolor maybe should add a disclaimer that he is neither on a fixed rate or a tariff with exit fees 

    Exit fees that get charged for change of tariff unlike British Gas/Eon Next some suggestion to wait and see if cheaper fix is offered August/September ish time
    Why - how is that relevant? If people want price certainty, then that is what a fixed price tariff offers whether or not it has exit fees. As has been said before, it comes down to one's attitude to risk.

    Going for a variable tariff now gives options; however, by the time any new Ofgem cap is announced for the 1st September, suppliers will have made their own judgements on the direction that prices are going. Today's fixed tariff may be very different from one on offer in 8 week's time.
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