Simply Fixed NOV26v8 with EDF (exit fees £100)

Roastdinners

So i see on one of Martins facebook posts yesterday that i can leave my current provider up to 50 days before my fix ends and that i can sign up up to one calander month before that…. So im with edf on their Simply Fixed NOV26v8 with EDF (exit fees £100). Ive done the comparison and Utilita is coming up as the chepeast. It says its a price capped tarrif. The next deal is with edf on the Simply Tracker Sep27v3, but in brackets it says (This tariff tracks the Price Cap, so when the Cap changes, so will this tariff. It discounts the standing charges by £50/year (£25/year for elec-only).

I havent got a clue what either mean or what one will be the best price for me going forward. Price is the only factor i use when signing up to something but i dont really understand them if im honest.

I also run it through CHATGPT as i try to understand it all (but i just dont) and that said i should look at FUSE Energy as it is the cheapest. Fuse isnt even listed on Martins comparison list it gave me…….

I cant afford to miss out so if someone/anyone can help me out with the best one to sign up to and what im looking for in a deal. I always thought that the longer deals were best but now im thrown as the edf one says that the tariff tracks the Price Cap, so when the Cap changes, so will the tariff…… I havent got a bloody clue what that means but im assuming it means the price will go up so the estimate that it says il pay each month/year, isnt what il actually be paying……

sheffieldeagle

Hi

When does your fix actually end? If it's before the 18th of November you can switch today. The tariffs you have mentioned are not fixes unlike your current EDF one. You need to do a comparison via the MSE energy club tool.

https://www.moneysavingexpert.com/cheapenergyclub/

Have your bill handy when filling it in.

It's very likely that a Fuse Energy tariff will come out cheapest (but not certain) as they are competitive at the moment.

Be careful as all the cheapest tariffs are likely to be either the price cap (this is the Offgem set cap that caps all the suppliers variable rate tariffs. Xxx The most expensive option xxx) or trackers which in some way try to discount the price cap. These will all increase tomorrow by around 4% and again in three months time by around 16%.

The fixes which will protect you from these increases will be slightly more expensive when you do your comparison.

Best of look.

QrizB

I havent got a clue what either mean

You're currently on a fixed tariff. This means the price per unit of energy, and the daily standing charge, won't change during the duration of the fix.

The two tariffs you're considering are not fixed, they're variable. Both will rise and fall to follow the Ofgem price cap, and the Ofgem cap is definitely increasing by 4% tomorrow and is expected to rise by maybe 20% in January.

im assuming it means the price will go up so the estimate that it says il pay each month/year, isnt what il actually be paying

Yes, exactly that. No-one knows what the full year will cost you but it's almost ctain to cost you more than the current estimated monthly/annual cost.

Fuse isnt even listed on Martins comparison list it gave me

If you don't tell it otherwise, MSE Cheap Energy Club shows you all available tariffs, including variable ones. Today, variable tariffs are among the cheapest. Tomorrow, however, they're all going to increase.

If you tell Cheap Energy Club to only show you Fixed tariffs, you can see what the cheapest fixed tariffs for you are. If you're looking for a fix, this is where to look.