EDF will hand customers £148 off energy bill within matter of weeks

EDF has launched a tariff £148 under the projected energy price cap for January. After Christmas, the price cap for Great Britain is forecast to rise to £1,736 a year for the average dual-fuel bill, according to Cornwall Insight, a well-respected energy consultancy.

EDF says there are no exit fees for Simply Fixed Direct 1y Nov25 if customers sign up directly through EDF, which costs £1,588 for a typical energy user paying by direct debit and a smart meter is not required to sign up. The deal could be removed at any time due to volatility in global wholesale prices.

Rich Hughes, Director of Retail at EDF, said: “At this time of year people are using more energy and are more concerned about the cost of their energy bill. We want to help in any way we can and have taken advantage of wholesale prices dropping to offer another market-leading deal.

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“The market does remain unstable and with the majority of customers on standard variable tariff likely to face another increase come January, customers still on that tariff could benefit from signing up to this tariff.” Typically the price cap does increase during the winter months, but there are other factors behind January’s predicted rise.

“The American election and the uncertainty it brings for global gas prices as well as conflicts in the Middle East, and between Russia and Ukraine, continue to cause volatility in global wholesale energy markets. This will lead to what is likely a higher upcoming energy price cap with our forecast predicting a rise to £1,736”, said David Edmonds, the Head of Pricing and Valuations in Wholesale Market Services at EDF.

EDF is also offering a 12-month tracker tariff, which tracks at £50 below the price cap, with that £25 per fuel saving coming from standing charges rather than unit prices, ensuring that those who sign-up will see the same financial benefit even if they are low energy consumers or on a Pay As You Go meter.

The energy provider has also boosted the amount of cashback customers can earn when they refer friends to EDF. Until Sunday, customers will get £75 for each successful referral they make and their friend will enjoy £50.