EDF fixed until 1st June no exit fees

InhaleMood

Hi,

I am on a fix with EDF until 1st June with no exit fees.

Energy club is showing I could save approx £60 a year by switching now to EON.

I know no one knows exactly what will happen but any suggestions on whether it is worth switching or wait until May?

Thanks

luci

https://forums.moneysavingexpert.com/discussion/6658012/edf-fixed-until-1st-june-no-exit-fees

If you want price certainity and you are risk averse, it may be worth switching now. No-one knows how long this war will last and that is what will drive the increase or decrease in energy prices.

jaybeetoo

https://forums.moneysavingexpert.com/discussion/6658012/edf-fixed-until-1st-june-no-exit-fees

Interesting. I’m on the same EDF tariff but the EON one is showing as more expensive for me.

InhaleMood

My edf one is the simply fixed direct May26v2?

The_Groat_Counter

https://forums.moneysavingexpert.com/discussion/6658012/edf-fixed-until-1st-june-no-exit-fees

Worth noting that the MSE Cheap Energy Club will calculate the annual saving figure based on your energy use (either estimated or real) using the costs of your existing fix until it expires - in your case until the end of May - and then for the rest of the year on the basis of you being on the SVR (basically the price cap) - the SVR costs being predictions.

What it (and any other comparison site) obviously cannot do - because it can't see into the future! - is compare the tariffs that are currently on offer against a year of you staying on your fix until it ends (at the end of May) and then the costs of a new fix offered in the future around the time of the expiry of your existing fix - this being what a savvy consumer would likely sign up for, rather than just meekly accepting moving on to the SVR.

Apols if I'm stating the bleeding obvious! I recently explained this to a friend who was getting in a bit of a muddle about it… they did then threaten to give up in confusion (meaning they'd end up on the SVR), which would have been the very the opposite of my intention in explaining it! Even a half-decent fix is very likely better than just paying the SVR… or if not a fix, then an SVR/price-cap tracker with some in-built formula for a reduction.

gpman

https://forums.moneysavingexpert.com/discussion/6658012/edf-fixed-until-1st-june-no-exit-fees

If you like what you see, grab it now.

No know will know what will be available in May until May

InhaleMood

https://forums.moneysavingexpert.com/discussion/comment/81909856#Comment_81909856

Yes interesting thanks. I don't understand that in theory, but it's just one more piece to get confused about!

Thanks

InhaleMood

https://forums.moneysavingexpert.com/discussion/comment/81910226#Comment_81910226

I understand that. I guess I was just asking for other people's thoughts to help make a good decision