In the cooling off period of a fixed contract but...

FlossieFlump

I'm within the cooling off period of my new fixed EDF energy contract.

After watching Martin's show last night it seems the 12 month fixed package is recommended, the 2yr fixed package came off EDF's website the day after I signed up for it, (2yr fixed package details at the end of this message).  I am elderly and live on my own so every penny counts for me as I just live on the old State Pension with no other income apart from PC. 

I was already with EDF and wanted to fix my prices before April as the packages on EDF are all quoting January still. However, now with peace imminent in Ukraine if you can go by the latest updates by Ukraine and US this morning on X do I stick with my 2 year fix or change while I can without a penalty to EDF's 12 month fix?  The exit fee on my 2yr fix is £50 and if prices plummet with peace in Ukraine as predicted and then pay the £50 exit fee (as I'd probably save that £50 in the long run), or switch to the 12month fix while Im in the cooling off period and not have to pay the £50 exit fee just incase peace is not forthcoming.

My DD amount doesn't change until the 1st April this year as I signed am still on my old package until then, so new charges/prices start 1st April 2025 and DD will go up then. 

Details of my current EDF 
Contract details

Tariff name

Simply Fixed 2Yr Mar27

Fixed term expires immediately prior to

01/04/2027

Payment method

Direct Debit (Fixed)

Exit fee

£50.00

Electricity supply

Unit rate

24.54p per kWh

Standing charge

68.10p per day

(All rates inc. VAT)

Any advice gratefully received. 

bristolleedsfan

EDF are offering nearly 16 month fix via website no exit fees, if you decide to cancel within cooling off period existing customers can get £50 cashback for change of tariff. https://www.topcashback.co.uk/edf-energy/  - specific link for existing customers.

https://www.topcashback.co.uk/edf-energy/

FlossieFlump

Thanks for the info but I'm not really in to those cash back sites. Too much faffing around when it's easier to go direct to the company.  I did look into cash back sites some years ago when they first started and they're ok for some people just not my cup of tea. Thanks anyway.