EDF customers will see their energy bills rise in October in line with Ofgem's new price cap. The price cap could rise by up to 82% and that means many customers will see bills skyrocket this year.
EDF prepayment customers are likely to see their tariff rise from the current maximum allowed under the price cap to the new limit and that means more stress for hard-hit customers who have already had a major price rise in April.
An EDF spokesperson said: "At a time when rising energy bills are a huge concern for many of our customers, support packages have been top priority at EDF. As a business we have looked across our network to identify areas that we believe are pinch points for consumers, and done all we can to offer help."
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According to Money Saving Expert the cheapest fixed rate deal for those who want to switch is Ebico Living, a one-year fix that will cost £4,700 a year. That is way above the price you should be considering, which means that EDF customers are probably better off sticking with their current variable rate.
The energy price cap is predicted to rise by 82% in October (to £3,582/year on typical use), that means you should only switch to a fixed rate deal if it will be cheaper than that price, or a little higher if you value consistency over potential price rises in future.
EDF does not publish its fixed rate deals but as an existing customer you can sign up to price alerts here. If you sign up for these you can switch to fixed rate if the price falls below the benchmark.
For those who do not switch EDF says customers can do a couple of things that may help although very few of them actually help to reduce the price. EDF suggest customers may want to pay monthly if they are currently paying quarterly because paying little and often might help better with budgeting. It also recommends installing a smart meter to help manage energy usage.
How to contact EDF
If you'd like to know why energy prices are going up, have a look at their FAQs about the energy market situation. If you're not sure what to do about your electricity and gas tariff at the moment, leave EDF your email address and they will keep you updated on energy prices.
Should you cancel your direct debit if you can't pay?
EDF says cancelling your payments might lead to more charges on your account.
It says: "If you pay by Direct Debit, we advise you don't cancel your Direct Debit payments or stop paying your bills without contacting us. It's likely you're paying less for your energy if you pay by Direct Debit so stopping it will likely increase your energy charges. Head to our help centre to find out more advice on Direct Debit."
What other support is available?
EDF's support comes in the form of:
EDF Customer Support Fund:
Earlier this year, EDF said they doubled the financial support available to customers most in need by announcing an additional £5 million fund. This was aimed at those customers who were facing debt and financial difficulties, as well as providing support in buying energy efficient white goods to help reduce bills long term. More information on this can be found on their Customer Support Fund website.
Warm home discount:
Through the Warm Home Discount scheme, EDF say they have awarded £36 million in rebates to 250,000 customers last year. They are expecting this scheme to open up again later this year, when they will be committed to making full use of it for their customers.
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