EDF reduces its fixed prices with new tariff matching April price cap

• Amid market uncertainty EDF has launched the cheapest energy-only fixed tariff amongst major suppliers
• The tariff, Simply Fixed 2Yr Mar28v3, will match the cost of Ofgem's 1^st April price cap and offer customers a fixed rate for their energy use for two years

EDF has launched a fixed tariff that matches the cost of the upcoming 1^st April price cap, making it the cheapest energy-only fixed price among major suppliers.[1]

Launching today, Simply Fixed 2Yr Mar28v3 is a two-year fixed-term product which will be priced at £1,772 and will drop to £1,641 from 1^st April in line with policy cost changes on bills.[2]

This will match Ofgem's new Energy Price Capannounced at the end of February, which has been set at £1,641 per year for a typical household between 1^st April and 30^th June 2026, and is below forecasts for where the price cap will be later this year.

UK wholesale gas costs have jumped by 75 per cent over the past week, with short-term uncertainty feeding through to future energy costs. Price predictions are suggesting a sustained period of high wholesale energy costs could lead to a 10% increase to the energy price capin July. EDF's own predictionon Monday 2^nd March showed the Q3 price cap had increased by £71 before wholesale costs increased further on Tuesday.

The deal may be withdrawn at any time due to volatility of wholesale market prices and is available to both new and existing customers when signing up directly through EDF. Exit fees of £75 per fuel will apply.

EDF's tariff offers customers peace of mind with fixed prices for two years

Philippe Commaret, Managing Director of Customers at EDF, said: "Global wholesale energy prices are incredibly volatile right now and many suppliers have responded by withdrawing fixed tariffs. We're determined to help our customers where we can and by launching this fixed tariff today, households can lock in a price now, giving them peace of mind and certainty of their energy prices for two years."

Existing EDF customers will also benefit from the Government's action on energy bills in last year's Budget with existing fixed prices decreasing to reflect policy change from 1st April.

Alternatively, for customers looking for a lower standing charge option, EDF has a tracker tariff, Simply Tracker Mar27, which discounts standing charges by £50. The fixed-term tracker tariff tracks Standard Variable prices and will undercut Ofgem's price cap by £50 and guarantees savings of £25 per fuel on the price cap, with the discount applied through standing charges.

Customers can also sign up to EDF's Sunday Saver

EDF frequently offers the cheapest fixed rate deals amongst major suppliers and is helping more customers save money with its 'Sunday Saver' challenge. Sunday Saver rewards eligible customers who shift their electricity usage away from weekday peak hours (4pm-7pm) to earn between four and 16 hours of free electricity the following Sunday. This month's challenge has already begun and the Sundays where customers will be able to use their earned free electricity will be 15th, 22^nd, 29^th March and 5^th, 12^th April.

For an extra £50 off their energy bill and the same off for a friend, EDF customers can also sign up to 'Refer a Friend' via MyAccount online.

Existing customers can sign up to the new tariffs in MyAccount or in the EDF app with new customers able to join on our website.