Edf new 2 yrmar 26 v2

Cazella

Luckily signed for 1 year fix last week.e midlands 32.10 day 11.15 night 50.67sc before they upped it to13.55 night but reduced day to 29 p.this morning they hv got 2 year fix 32.42 day 11.42 night 50.67 sc which is very good night but not prepared to fork another £75 to swap and think after a year the rates will drop a lot especially for day rate but if I hadn’t already signed up would hv took the certainty of this 2 year just for the night rate alone.the exit fee bit hefty though😳at £125 .

vienna28

Cazella, when signing to a fix you do have a 14 day cooling off period when you can leave that fix without being charged a fee.

Likewise you can also leave a fix within 49 days of when that contract ends and not be charged an exit fee.

From this website:

"If you do switch to a fix with high exit fees and change your mind, you always have a 14-day cooling off period after you switch, when you can cancel without penalties. 

You also can't be charged exit fees if you switch away within the last 49 days of your fixed-term contract"

............

My personal opinion is i much prefer your one year fix deal.  Because although prices are predicted to go lower from July 2024 they are also predicted to rise again from October 2024 .  So i personally don't think the E7 night rate will be lower than 11.15p from October 2024.  So from July i certainly wouldn't be paying a £75 exit fee if i saw a slightly better deal.

Plus because your 13 month fix ends 31 March 2025 that means you could start looking at other deals 49 days within that date and you wouldn't be charged an exit fee if at that time you found a better deal.

Also like you, i would like to think into 2025 that energy prices would start to drop considerably. 

Cazella

Thankyou I’d only signed my jan fix on 17 th so out of the 14 day cooling 🤷‍♀️Typical isn’t it lol but glad I’ve got the 1 year deal especially for this winter and worst of next year and see how it goes within last 49 days of that if they go lower.two year too much of a gamble especially considering that exit fee.wish they would reduce it but reckon they make a lot of money out of it.

Cazella

Jan fix was 33.89 day and 13.40 night which was cheaper than the svt of 16.28 night so thought that was good then the better rates popped up last week .lol

vienna28

Well i had fixed in Oct 2023 at a 14.5p night rate and i paid a £75 exit fee to leave that.  So lol we can't keep paying exit fees.  😆

49 days within 31 March 2025 will be from around 10/11 Feb 2025 you will be able to look for new deals without incurring an exit fee.   So if Ofgem announce a new price cap around the same date next year then just like edf did this year, energy companies may start offering good fixes just before the energy price cap announcement.  Which would be perfect timing for you.  🙂

And i still think 11.15p is an excellent night rate.  I mean it is pretty close to 10p.  The new 1 year fix night rate of 13.55p is closer to 15p.

Cazella

Lol my thinking exactly.x