Energy supplier launches new fixed tariff

EDF Energy has become one of a limited number of energy suppliers to offer a fixed-term tariff to give consumers extra certainty about their energy bills.

With wholesale energy prices having experienced considerable volatility after Russia’s invasion of Ukraine over two years ago, energy suppliers have been reluctant to offer deals to attract customers. This now seems to be changing, with EDF offering a fixed tariff that will work out £109 a year cheaper for the typical household compared to Ofgem’s April price cap.

Uswitch energy expert Will Owen said to The Mirror that it was good to see prominent suppliers like EDF contributing to market competition again. He said that at the price, the deal is:

“…worth considering for those wanting to take advantage of falling rates and lock in price certainty for 12 months. If you decide to stay put on a standard variable tariff, it’s worth noting you will see your energy costs change every three months in line with the price cap.”

It should be noted that there is an £75 exit fee for transferring to another supplier within 12 months, although customers can move to another EDF fixed tariff free of charge.

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