EDF ENERGY LAUNCHES BLUE +PRICE PROMISE: BRITAIN’S FIRST NUCLEAR-BACKED LOW CARBON TARIFF FOR RESIDENTIAL CUSTOMERS WITH A UNIQUE INDUSTRY PRICE PROMISE
~ Company will tell Blue +Price Promise customers if another supplier launches a tariff which is £1 or more cheaper a week at typical consumption ~
~ No termination fees mean customers can switch supplier for free ~
~ EDF Energy’s website will allow customers to compare Blue +Price Promise against all suppliers ~
EDF Energy will next week launch Britain’s first 100% nuclear-backed tariff for residential customers – which comes with a ground-breaking promise to let customers know if a rival supplier brings out a tariff which is £1 or more a week cheaper at typical consumption.
Blue +Price Promise tariffs will offer customers a guarantee that their electricity will be backed from low carbon generation, an industry first price promise and the total flexibility to move to another supplier whenever they like without paying an exit fee. The first in the series, which goes on sale on Monday, April 2, will offer a fixed price up until September 2013 and will be called Blue +Price Promise September 2013.
Based on a national average of regional prices, the annual dual fuel bill for a customer on Blue +Price Promise, paying by monthly direct debit, will be £1,054.20 at typical consumption – making it one of the cheapest deals in the market.
But unlike any tariff on the market, EDF Energy pledges to notify customers if another energy provider is offering a tariff which could save them £1 or more a week at typical consumption1. There is no termination fee so customers can choose to switch to a cheaper tariff for free if they wish to.
The new tariff will also come with a guarantee that the electricity a customer uses will be matched by low carbon electricity generated by nuclear power stations2. It is the first time domestic customers will be able to buy a nuclear product, offering a low carbon, safe and secure energy source.
Unlike some other low carbon tariffs, no premium will be charged for the low carbon guarantee, which will be audited by a third party.
Martin Lawrence, Managing Director of Energy Sourcing and Customer Supply at EDF Energy, said: "Consumers want greater clarity and flexibility from energy tariffs and we know that fair and simple pricing helps to build consumer trust.
"Blue +Price Promise sets a new gold standard in transparency with its ground-breaking price promise. It puts customers in the driving seat. Those signing up to the first Blue +Price Promise, which goes on sale on Monday, will know they are on one of the most competitive fixed price tariffs and that we will tell them if any supplier launches a deal which could save them £1 a week or more. There are no deals on the market today which would save Blue +Price Promise customers more than £1 a week.
"We’re also proud to be launching Britain’s first 100% nuclear tariff which will allow domestic customers to benefit from low carbon energy, low prices and a no fee switching promise.
"Recent polling has found strong public support for nuclear energy in Britain as people recognise the value of investing in a clean, safe, secure energy source."3
EDF Energy will monitor all prices, across the full spectrum of energy suppliers and will make customers aware of cheaper tariffs meeting the price promise by email, online or by post.4
Customers will also be able to check which supplier and tariff offers them the best price by visiting EDF Energy’s own website, which will search every deal across the market and display the cheapest based on the customer’s energy usage and location.
Blue +Price Promise reflects EDF Energy’s determination to rebuild trust in the industry by offering a fair and transparent range of tariffs and services.
It forms a key part of EDF Energy’s customer commitments, which were unveiled earlier this week. The commitments focus on fair value, better service and simplicity (http://www.edfenergy.com/ourcommitments). These commitments include a pledge that around 150,000 elderly customers identified as most in need would automatically benefit from the company’s lowest prices.