EDF Essentials Exclusive

nrmsmith

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.  

MattMattMattUK

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

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

TheMilkmansDad

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

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

TheMilkmansDad said:

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 

cinders59

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 

bristolleedsfan

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

bristolleedsfan said:

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

itzmee

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

bristolleedsfan said:

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.