Across the whole energy industry, important changes are taking place. Ofgem – the energy regulator – has announced changes that all energy companies, including EDF Energy, need to make.
All energy companies are now working with Ofgem to make these changes, which means the industry is more transparent and easier to understand. This is all part of the Retail Market Review.
These changes will benefit our customers by making sure that tariffs are easy to understand and compare. You can find out more about what this might mean for you right here. Or, if you're short on time, why not watch our 2 minute video?
Treating you fairly
We made three very important commitments to our customers that have guided the way we work over the past two years. They are to offer Fair Value, Better Service and Simplicity. We use them to make sure we always put our customers first.
On 31 December 2013, we changed the way we structure all our available energy tariffs. We'll only ever have a maximum of four tariffs for you to pick from based on your meter type, which makes it easier to choose between them.
We also removed our old 6% discount for all our new tariffs, for customers paying by Direct Debit. Instead, we introduced a new unit rate, which is lower than the unit rate for customers paying by cash or cheque. This means paying by Direct Debit is still the cheapest way to pay. And it makes our tariffs easier to compare.
Finding the cheapest tariff for you
At least once a year, we'll let you know if you could be better off on another of our available tariffs. You'll be able to find personalised information shown on our:
- Annual statement
- Price change letters
- Tariff renewal letters (these tell you when your current tariff is ending)
Remember that paying by Direct Debit could save you money.
Ofgem has introduced two new ways to help people get a better understanding of the differences between energy tariffs. They are the Tariff Comparison Rate and the Tariff Information Label.
Tariff Comparison Rate (TCR)
This is a useful new tool, which will be used by all energy companies to help you compare the price of four different tariffs. It's similar to the Annual Percentage Rate (APR) used in credit and loan agreements. It’s based on typical energy usage, so we still advise you get a full personal quote before you decide on the right tariff for you.
You’ll see Tariff Comparison Rates on your bills and annual statements.
Tariff Information Label (TIL)
This is a quick reference guide that allows you to compare different tariffs. A bit like a food nutrition label, it lets you see at a glance what the benefits and drawbacks of any particular tariff might be.
You'll find this information on your annual statements, tariff renewal letters, and when you agree a new contract with us. You can also see the Tariff Information Label for your current tariff, online, at any time. Or get in touch and ask us to send you a copy.
Your bills and annual statement
We’ve made our bills and annual statements clearer. They now also show if you could be better off on another of our available tariffs.
Take control and save
Did you know that paying by Direct Debit is the cheapest way to pay and could save you money? Or that it's easy to take control of your account online using MyAccount?
Pay by Direct Debit
It's the cheapest way - you pay a lower unit rate for the energy you use. It's secure too and it helps you to budget, because the same amount comes out of your account each month.
Register for MyAccount
It's even easier to manage your account online. Register for MyAccount and you'll be able to keep track of your energy bills, give us meter readings, change the tariff you're on and update the ways you'd like us to keep in touch. All you need to register is your account number.