The new tariff comes with a catch as it will only be available to households which are fitted with a smart meter and there is an early exit fee of £25 per fuel
Energy companies are trying to win over new customers by offering tariffs that beat the new winter price cap. EDF has launched what it claims is the cheapest energy-only fixed tariff among the “major suppliers”, the equivalent of £68 cheaper than the Ofgem price cap level coming in the next month.
The average energy tariff will rise by 10 percent up from October 1, taking the annual bill based on typical use up from £1,568 to £1,717. But EDF’s new Essentials Fixed one year Sep25v2 is priced at the equivalent of £1,649, which would be £68 below October’s price cap. Rich Hughes Director of Retail at EDF, said: “Energy prices had been decreasing, but we are all too aware that because of increases to the price cap, this will change shortly. We know customers will be concerned and we want to do all we can to help. Locking into the cheapest energy-only deal in the market protects them from future upcoming price rises.”
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