New EDF tariff cheapest of large suppliers
Customers are being encouraged to consider a new tariff launched today by EDF which is the cheapest of the large suppliers1 and more than £100 lower than the current energy price cap.
EDF’s Essentials 1Yr May25 tariff, priced at £1,5802 for a 1-year fix and available to new and existing customers, is £110 under the current price cap (£1,690) and predicted to stay competitive against the cap until April 2025, based on Cornwall Insight’s most recent projections.
Customers will save an average of £50 on their energy bills over the year, based on Cornwall’s current projections for Q3, Q4 2024 (£1,560, £1,6313) and Q1 2025 (£1,634).
"At EDF, we’re passionate about all our customers saving cash on their energy bills. That's why we're pleased to introduce our best fixed-price tariff since 2021, now £110 lower than the current industry cap,” said Rich Hughes, Director of Retail at EDF. “By signing up for this tariff, customers can beat the likely price cap rises this winter and enjoy savings on their energy bills, but they should act now before it’s too late as the deal ends on 9th May."
Customers who sign up to the tariff will need to have a smart meter or agree to having one installed. By installing a smart meter, customers can access a range of benefits, such as EDF’s exclusive Energy Hub platform, accessible via MyAccount or via the EDF app, where they can access a personalised view of their energy usage.
EDF has found that customers who are using Energy Hub to understand their usage are able to actively reduce their bills by up to £414 a year as well as helping to cut their carbon footprint.
Getting a smart meter installed is simple, with no upfront extra cost for the meter or for the in-home display it comes with.
To sign up to EDF Essentials 1Yr May25 existing customers can do so via MyAccount online or via the EDF app, or new customers can sign up 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: https://www.ofgem.gov.uk/retail-market-indicators. Based on prices as of 29 April 2024.
[2] [3] Prices based upon Ofgem’s Typical Domestic Consumption Values (TDCVs) which are now set at 2,700 kWh per annum for electricity, and 11,500 kWh per annum for gas.
[4] Save around £41 with Energy Hub. Savings estimated on a sample of 2000 customers who started using Energy Hub between January 2022 and March 2022 and logged in 5+ times between April 2022-April 2023. Costs based on Ofgem's typical annual consumption positioned against projected Standard (Variable) consumption costs of April 2024 to March 2025. Ofgem estimates the typical household in Britain uses 2,700kWh of electricity, 11,500kWh of gas.
About EDF
EDF is helping Britain achieve Net Zero by leading the transition to a cleaner, low emission, electric future and tackling climate change. It is the UK’s largest producer of low-carbon electricity(1) and supplies millions of customers with electricity and gas.
It generates low carbon electricity from five nuclear power stations and more than thirty onshore wind farms and two offshore wind farms.
EDF is leading the UK's nuclear renaissance with the construction of a new nuclear power station at Hinkley Point C, and there are advanced plans for a replica 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 is one of the UK’s largest investors in renewables, with more than 1.5GW of renewable generation in operation and almost 14GW in planning and development across a range of technologies including onshore and offshore wind, solar and battery storage. We are constructing our largest offshore wind farm in Britain – the 450 MW Neart na Gaoithe project in Scotland.
EDF is helping its customers, both in business and at home, take their first steps to sustainably powering their lives. Whether it is buying an electric car, generating and storing electricity, selling energy back to the grid or installing a heat pump. EDF is 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, is one of the largest technical service providers in the UK and Ireland.
EDF is part of EDF Group, the world’s biggest electricity generator. In the UK, the company employs around 14,000 people at locations across England, Scotland, Wales and Ireland.
Related articles
Beat the lag: EDF launches weekly price forecasting service for consumers
EDF and Pod Point introduce new smart charging initiative to help balance the grid
