To help customers to make informed decisions when choosing energy tariffs, EDF has launched a new forecasting service with predictions about how energy prices may change.
With energy markets having largely stabilised after the energy crisis, the market is starting to see more fixed-price deals being offered by suppliers, but it’s often difficult to determine if these deals will actually work out cheaper in the long run. While no one knows for sure what energy prices will be in the medium term, the new service from EDF will give customers an idea of how they are expected to change.
EDF’s wholesale market services director, Christopher Dalley, said that uncertain energy prices meant that consumers now needed regular, clear guidance for them. He added:
“Energy prices change day by day, not once a quarter, so we are proud to launch this new service which gives customers up-to-date information to help them understand whether a deal is a good or bad one, and see the potential savings they could make by switching tariffs.”
EDF will update its predictions weekly based on market expectations and the same formula that Ofgem uses to calculate its price cap. While making well-informed choices about energy deals is important, an efficient heating system is the basis of low energy bills.
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