EDF Standard variable tariff 1st Jan rates

Swipe

The new EDF Standard variable tariff rates for 1st Jan are out:

https://www.edfenergy.com/sites/default/files/2023-12/DM1903_Standard (Variable), Deemed and Welcome - standard, E7 and prepayment meters_EPG rates.pdf

https://www.edfenergy.com/gas-and-electricity/energy-price-guarantee

MultiFuelBurner

Swipe said:

The new EDF Standard variable tariff rates for 1st Jan are out:

https://www.edfenergy.com/sites/default/files/2023-12/DM1903_Standard (Variable), Deemed and Welcome - standard, E7 and prepayment meters_EPG rates.pdf

https://www.edfenergy.com/gas-and-electricity/energy-price-guarantee

Or in other words the party is over.

Shame as have been telling people with E7 on here and in the village to snap the previous rates up and on a fix for the Eastern region.

But you can only hammer the nail home so far.

lohr500

If the EDF Complex meter rate card is correct for Jan 1st 2024 then it looks like the party is over for my EDF ECO20:20 tariff as well   

24% increase on the off-peak and 8% on the peak.

Unfortunately there hasn't been a fixed version available to grab over the past few months.

Perhaps now is the time to look at one of the Octopus TOU tariffs. 

MultiFuelBurner

lohr500 said:

If the EDF Complex meter rate card is correct for Jan 1st 2024 then it looks like the party is over for my EDF ECO20:20 tariff as well   

24% increase on the off-peak and 8% on the peak.

Unfortunately there hasn't been a fixed version available to grab over the past few months.

Perhaps now is the time to look at one of the Octopus TOU tariffs. 

Quite a few on EDF's previously good rates will have to do their calculations.

As you say maybe a TOU tariff will suit. Time to get that spreadsheet and calculator out ➕➖➗

dealyboy

@lohr500 said:

If the EDF Complex meter rate card is correct for Jan 1st 2024 then it looks like the party is over for my EDF ECO20:20 tariff as well   

24% increase on the off-peak and 8% on the peak.

Unfortunately there hasn't been a fixed version available to grab over the past few months.

Perhaps now is the time to look at one of the Octopus TOU tariffs. 

Perhaps ... I think we need to be careful though. I started looking at Octopus a week ago, I have been dismayed at what I have been reading on this board re. high peak Agile prices that may well last through Q1 24 ... https://forums.moneysavingexpert.com/discussion/6433912/octopus-agile#latest and an example of extremely poor service ... https://forums.moneysavingexpert.com/discussion/6474752/octopus-energy-economy-7-beware#latest.

lohr500

Worse that I 1st thought due to my poor maths!! 32% increase in off-peak and and 9% in the peak rate, compared to current 

MultiFuelBurner

lohr500 said:

Worse that I 1st thought due to my poor maths!! 32% increase in off-peak and and 9% in the peak rate, compared to current 

I do think they have gone too far with their adjustment but it must have been a decision made due to profit margins.

I am going to pop round local neighbours later as they are with EDF on all electric households with E7 and storage heaters as I bet they don't know yet and there are quite a few elderly around in that position.

I think this going to tip some over the edge of affordability.

QrizB

lohr500 said:

Perhaps now is the time to look at one of the Octopus TOU tariffs. 

Here are today's average Agile prices.

For comparison, Tracker is offering a flat rate of about 20p/kWh today, but was 25p/kWh at the end of last week.

lohr500

Thanks @QrizB

I keep looking at Agile and Tracker prices using the historic info on various websites and it is a tough call.

Even with the 1st Jan increase, I will be getting around 83% of our annual usage at the £0.144 off peak rate.
And with certainty over when the off-peak periods are each day.

I think moving to Agile, or Tracker would be a big gamble for us.

Separately we are thinking about solar and battery storage which no doubt opens another can of worms!! 
 

dealyboy

I should put my new rates into context ...

I am on the E7 SVT in the Eastern region and my usage is currently (and likely to stay for the next three months at) 75% off peak 25% peak, which on current rates is the equivalent of a single rate of 16.4p per kWh, and on the new rates equivalent to 21.6p.

The new single rate tariff is 29.22p per kWh and the SC is unchanged at 44p per day in all three cases.

So although the off-peak rate has doubled, my effective cost increase is just 31.7% and I will be 26% better off than being on the new single rate.

Should we thank Martin for his successful E7 lobbying earlier in the year?

money-reform-now

These prices are as accurate as a Tory inflation rate calculation, and as useful as a chocolate teapot.