EDF is handing customers £148 off their energy bills

EDF has launched the cheapest 12-Month fixed tariff as energy price cap are predicted to rise after Christmas. With the next Ofgem energy price cap announcement expected to reveal an increase later this month, EDF has once again launched the cheapest, energy-only 12-month fixed tariff among major suppliers.

EDF’s price cap forecasting service predicts that the upcoming cap will go up again from 1 January 2025 and be £19 more than the October price cap level of £1717. EDF has regularly offered the cheapest fixed rate deals amongst major suppliers this year and recently launched its Sunday Saver offer giving customers who sign up and reduce peak energy use up to 16 hours of free electricity a week.

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. It marks a £148 saving on the January price cap as predicted.

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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.

“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.