Energy customers are being urged to ditch and switch to energy firm EDF Energy after it launched the ‘cheapest deal’ ahead of the next Ofgem energy price cap rise.
EDF Energy is now offering a new Simply Fixed Direct 1 Year Nov25 tariff which will charge £1,588 for typical households who pay by direct debit.
The UK’s energy price cap is set to rise another 1 percent in January, taking average bills up to £1,736 from £1,717.
Every three months, energy regulator Ofgem adjusts its price cap and energy firms then follow suit, raising or lowering prices on their standard variable tariffs, which all energy customers will be on if they’re not on a fix.
But EDF is offering a fix which will help customers beat the rise in January and save money against the current cap now, too.
Those who fix on the EDF tariff will save £148 against the price cap over the next year, assuming prices don’t drop significantly in April 2025.
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.”
Energy consultancy Cornwall Insight said it expects Ofgem to reveal on Friday that the typical household’s energy bill will rise by 1%, or £19, to £1,736 from £1,717 on January 1.
Cornwall Insight had previously predicted a 1% fall to £1,697, but said this was now no longer the case, coming as a blow after prices rose by 10% in October.
Craig Lowrey, principal consultant at Cornwall Insight, said: “Supply concerns have kept the market as volatile as earlier in the year and additional charges have remained relatively stable, so prices have stayed flat.
“While we may have seen this coming, the news that prices will not drop from the rises in the autumn will still be disappointing to many as we move into the colder months.”
