Martin Lewis says EDF customers can get £110 but deadline's 4pm Thursday

Martin Lewis has revealed the cheapest energy fix tariff available to people right now. The Money Saving Expert and ITV regular shared his expert advice in his latest episode of the BBC Sounds Martin Lewis Money Podcast released on Wednesday (1 May).

Mr Lewis told a caller: “The cheapest fix available right now is the EDF Essentials One Year May 2025 Fix, which I don’t think will be around for very long. You can get that if you are new to EDF. It is seven per cent less on average and, of course, it depends where you live in the country and how much you use.”

The seven per cent offer gives a £110 saving on the current Ofgem price cap. You'll need to have or get smart meters (including smart prepayment meters) and must pay by fixed monthly Direct Debit (or by smart prepay), Money Saving Expert has said.

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It is available as dual-fuel or electricity-only. EDF explains on its website: "Fix £110 below the price cap! Don't miss our lowest fixed tariff since 2021, ending 9 May at 3.59pm ! Avoid potential winter price hikes with our cheapest one-year fixed tariff."

It adds: "We're proud to power over 3.7 million homes and services like the NHS, Royal Mail and government." EDF T&Cs add: "From 1 April to 30 June 2024, the price cap is £1,690. Our cheapest fixed tariff EDF Essentials 1Yr May25 is £1,580 a year – £110 cheaper than the Ofgem cap when you pay by Direct Debit. At 4.00pm on Thursday 9 May 2024, a new one year fixed plan will be available at a higher price.

Figures are based on Ofgem ‘typical’ consumption. 'Typical' yearly consumption is 2,700kWh electricity and 11,500kWh gas based on a national average of regional prices for a dual fuel customer with a standard electricity meter who pays by Direct Debit.

"'Typical' consumption assumes the price cap does not change over a full year."