Hopes of an energy price war have been ignited as EDF launches a tariff £350 cheaper than the current cap, potentially sparking competition among suppliers.
Cheapest Tariff Since October 2021
EDF’s fixed-rate deal, priced at £1,581 annually for typical usage, marks the lowest tariff since October 2021, predating the energy crisis sparked by the Ukraine conflict.
Significant Savings for Consumers
The tariff offers £347 yearly savings compared to the current cap and £109 less than the new lower price cap of £1,690 set to take effect on April 1. This move is expected to provide relief to millions of households struggling with energy costs.
Competition Expected to Intensify
Industry experts anticipate rival suppliers to counter EDF’s offer, aiming to attract consumers with competitive pricing. Existing EDF customers can directly access the tariff, while others can sign up through Uswitch.com.
Caution Advised Amid Fixed Deals Surge
Analysts advise caution before committing to fixed deals, emphasizing the importance of considering potential fluctuations in the price cap. Short-term savings may be enticing, but consumers should evaluate long-term implications.
Positive Outlook for Consumers
Energy experts view EDF’s initiative as a positive development, hoping it will prompt other suppliers to offer competitive pricing, providing much-needed financial relief to consumers.
Emily Seymour of Which? suggests that with prices stabilizing, more competitive deals may emerge in the future, offering consumers greater choice and affordability.
Source: dailymail.co.uk
