EDF Essentials 1Yr Apr25 tariff is being withdrawn on Thursday 4 April 2024 at 3.59pm.

Speculator

Just received email.


Hi. Last chance to get this price!

Our EDF Essentials 1Yr Apr25 tariff is being withdrawn on Thursday 4 April 2024 at 3.59pm.

It's an average of £109 a year cheaper than the Ofgem cap from April 1 when you pay by Direct Debit.

It comes with a bonus 'Switch Anytime' guarantee 2 – see a fixed energy plan from us that's cheaper and you can switch for free!

Get price certainty with fixed costs now and through next winter.

grudz

Since the onset of the energy crisis, I’ve meticulously tracked my energy usage and monitored forecasted rates over the next 12 months in Excel. Based on these insights, I’ve made adjustments to my Direct Debits accordingly. After weathering the storm on the Standard Variable Tariff with BG, I recently switched to this plan after reviewing the updated forecast. 

Wholesale price hikes and Ofgem updates raise price cap forecast - Cornwall Insight (cornwall-insight.com)

While forecasting is akin to gazing into a crystal ball, it has proven to be an invaluable tool for guiding my choices over the past few years. Interestingly, when compared with the forecast, this new deal appears to be more cost-effective for the upcoming 12 months.

As an added bonus TopCashback are offering £44 (£22 per fuel). Sorry Martin, I would've used the Energy Club but that was offering £20.

Speculator

Luckily, I avoided all the energy crisis. How high did prices reach at it's peak?

Been on a 3 yr fix (19.1p elec/3.884p gas) that finished 31 March. Now on this EDF 1 Yr fix.

stuarta99

Oh damn I'm just over the 49 days with EDF in order to switch to the 1 year and them waive the exit fees.

My estimation from them is £121 on the 1 year or £129 on variable or the 2 year.

I was going to switch to the variable to take into account the predicted drop in July but I see that's not predicted to be as good as it originally was.

Maybe the 2 year at the current variable rate and have my exit fees waived is a good choice.

spot1034

stuarta99 said:

Oh damn I'm just over the 49 days with EDF in order to switch to the 1 year and them waive the exit fees.

My estimation from them is £121 on the 1 year or £129 on variable or the 2 year.

I was going to switch to the variable to take into account the predicted drop in July but I see that's not predicted to be as good as it originally was.

Maybe the 2 year at the current variable rate and have my exit fees waived is a good choice.

Take predictions for any time beyond the next price cap as pure speculation. Wholesale gas prices have risen off their lows in Feb but are now bouncing around within a range and despite the oil price rising quite sharply in recent days, the wholesale gas rate actually fell yesterday! As I write, it's down again in early trade this morning.

You never know, it's possible that the next deal might be better than the one that's about to expire. 

stuarta99

Yep that's just it. If the predictions going forward are anywhere close, maybe the 2 yr option is good.

But it's only the 1yr that seems to be mentioned as the best deal which I guess is because it's 3% below the price cap while the 2yr is at the price cap

mjmal51

stuarta99 said:

Oh damn I'm just over the 49 days with EDF in order to switch to the 1 year and them waive the exit fees.

My estimation from them is £121 on the 1 year or £129 on variable or the 2 year.

I was going to switch to the variable to take into account the predicted drop in July but I see that's not predicted to be as good as it originally was.

Maybe the 2 year at the current variable rate and have my exit fees waived is a good choice.

I still had over 2 years left on my 3 year fix with EDF. Changed to this new 1 year fix, the computer imposed £400 exit fees (200/fuel). I emailed them and they apologised and removed the full exit fees that same day.

inspectorperez

My fixed deal with EDF terminates end of April. Switched to 2 year fixed deal yesterday and not expecting exit fee charge. Bit of a gamble but makes budgeting so much easier with a known cost covering two winter periods. And a big thanks to this forum for flagging up the expected withdrawal date of the offer.