EDF launches cheapest 12-Month fixed tariff as energy price cap predicted to rise
With the next Ofgem energy price cap announcement expected to reveal an increase later this month, EDF has once again launched the cheapest, energy-only 12-month fixed tariff among major suppliers.
EDF’s price cap forecasting service predicts that the upcoming cap will go up again from 1st January 2025 and be £19 more than the October price cap level.
Wholesale prices had come down from their historic highs seen at the peak of the energy crisis during 2022 and dropped to £1,568 earlier this year. However, ongoing geopolitical tension has continued to create volatility in the global wholesale energy markets, with the cap increasing by 10% on October 1st.
EDF has regularly offered the cheapest fixed rate deals amongst major suppliers this year1 and recently launched its Sunday Saver offer giving customers who sign up and reduce peak energy use up to 16 hours of free electricity a week.
There are no exit fees for Simply Fixed Direct 1y Nov25 if customers sign up directly through EDF, which costs £1,588 for a typical energy user paying by direct debit and a smart meter is not required to sign up.
The deal could be removed at any time due to volatility in global wholesale prices.
Rich Hughes, Director of Retail at EDF, said: “At this time of year people are using more energy and are more concerned about the cost of their energy bill. We want to help in any way we can and have taken advantage of wholesale prices dropping to offer another market-leading deal.
“The market does remain unstable and with the majority of customers on standard variable tariff likely to face another increase come January, customers still on that tariff could benefit from signing up to this tariff.”
Typically the price cap does increase during the winter months, but there are other factors behind January’s predicted rise.
“The American election and the uncertainty it brings for global gas prices as well as conflicts in the Middle East, and between Russia and Ukraine, continue to cause volatility in global wholesale energy markets. This will lead to what is likely a higher upcoming energy price cap with our forecast predicting a rise to £1,736”, said David Edmonds, the Head of Pricing and Valuations in Wholesale Market Services at EDF.
EDF is also offering a 12-month tracker tariff, which tracks at £50 below the price cap, with that £25 per fuel saving coming from standing charges rather than unit prices, ensuring that those who sign-up will see the same financial benefit even if they are low energy consumers or on a Pay As You Go meter.
The energy provider has also boosted the amount of cashback customers can earn when they refer friends to EDF. Until Sunday, customers will get £75 for each successful referral they make and their friend will enjoy £50.
Existing customers can sign up to the new tariffs in MyAccount or in the EDF with new customers able to join here.
1 Cheapest based on straight price for price comparison, not including add ons. As of March 2024, the Big Six energy utility companies in the UK are: British Gas, Octopus Energy, E.ON Next, Ovo, EDF, and Scottish Power. Based on prices as of 29 April 2024.
About EDF
EDF is driving the transition towards An Electric Britain – a secure, affordable, low-carbon future for everyone. As Britain’s biggest generator of zero carbon electricity, we are investing more than £100 million weekly in Britain’s electricity infrastructure. We supply millions of customers with electricity and help homes and businesses switch to electricity for heating, transport and industrial processes.
We operate five nuclear power stations and more than 35 onshore wind farms and three offshore wind farms. Since 2009, EDF has invested almost £9 billion in the nuclear fleet to improve reliability and extend station lifetimes. The five generating stations currently supply about 12% of the UK’s electricity demand.
EDF is building the UK's nuclear renaissance with the construction of a new nuclear power station at Hinkley Point C. We are a minority investor (12.5%) in and major supplier to a replica plant at Sizewell C in Suffolk. Hinkley Point C and Sizewell C will provide low carbon electricity to meet 14% of UK demand and power around 12 million homes. EDF Group companies Framatome and Arabelle Solutions have a presence in the UK and manufacture critical equipment such as reactor pressure vessels and turbines.
EDF is enabling its 5 million customers, both in business and at home, to choose electric solutions that save cash and carbon, whether it is buying an electric car, generating and storing electricity, selling energy back to the grid or installing solar panels or a heat pump. In 2025, EDF’s Customers business was ranked as one of the Sunday Times’s Best Place to Work.
It is also one of the UK’s leading developers of renewable energy through EDF power solutions UK and Ireland. We have more than 2GW of renewable generation in operation and over 10GW in construction, planning and development across a range of technologies including onshore and offshore wind, solar and battery storage.
We are one of the largest suppliers to British business and a leading supplier of innovative energy solutions that are helping businesses become more energy independent. In addition, the company’s energy services business, Dalkia, one of the UK and Ireland’s largest technical service providers.
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