Called Blue + Price Promise December 2014, the clue is in the name that new customers can benefit from an extra three months of protection against gas and electricity price hikes.
That’s great news for anyone worried about the impact of the expected round of energy price increases on their winter heating bills.
However, with energy providers jostling for a prime position in a competitive marketplace, the EDF Energy Blue + Price Promise is not the only attractive energy plan available.
Here, we take a closer look at the tariff – and some of the other competitive deals
being offered at the moment – so that you can work out if it is the best option for your household.
What’s the deal?
EDF Energy is offering an extra three months on its new Blue + Price Promise tariff meaning that its customers are now protected from price hikes until December 30, 2014.
And the good news is that the typical annual cost of the plan, based on average usage, is £1,210 – only £1 more than the previous offer lasting until September 30, 2014.
Anyone switching to this tariff can therefore benefit from three extra months of peace of mind about rising energy prices for just £1.
As with the former Blue + Price Promise, EDF Energy pledges to contact customers on the plan if new deals become available that mean they could save £1 or more a week by switching elsewhere.
Unlike many of the best fixed energy deals on the market, there is also no cancellation fee to pay should you decide to move to a new energy supplier before December 2014.
Finally, the ‘Blue’ tag means that environmentally-conscious households can rest easy in the knowledge that the electricity they use is backed by low carbon nuclear sources.
The lack of a cancellation fee means that this deal is free of catches. However, it is not the cheapest tariff, or even the cheapest fixed plan, on the market.
M&S Energy’s Fix & Save tariff, on which the fix expires on September 30, 2014, is just over £70 a year less expensive at £1,139.43 – again based on average usage figures. You can read more about the deal here.
And it is not the only one. The Npower Online Fix October 2014 is almost £30 less expensive at £1,181 on average a year, and Scottish Power’s Online Fixed Price Energy, which runs until November 2014, is also slightly cheaper at £1,195.
Online plans that cost less now, but offer no protection against energy prices going up, include First Utility’s isave v16, which comes with average annual bills of £1,155.49.
If you are keen to just freeze your energy prices for as long as possible, there are longer fixed rate tariffs available too. Scottish Power’s Help Beat Cancer Fixed Price Energy tariff for example, runs until December 31, 2016. The supplier will also make a £10 donation to Cancer Research UK when you sign up to this tariff and £10 annual donations after that.
What’s the verdict?
With energy prices expected to go up again soon, and tension in the Middle East and particularly Syria threatening to send them higher still, it might be worth paying a bit more for the extra security of having your prices fixed until the end of next year.
This is especially the case given that December – being cold and in holiday season – is one of the months that we tend to use the most gas and electricity.
Other attractive features of this tariff include that it doesn't impose a cancellation fee – leaving you free to switch elsewhere should a better deal come on to the market.
This is not the case with many of the other leading deals. The M&S Fix & Save, for example, comes with a £50 cancellation charge.
And with EDF Energy promising to inform you if you could save £1 a week or more by switching to a different electricity or dual fuel provider, you should not miss out on any top offers. That’s a definite bonus in a volatile energy market.
It is always a good idea to pay your energy bills by direct debit, if possible, as providers reward customers who pay this way with attractive discounts.
With the Blue + Price Promise, for example, EDF Energy offers those who choose to pay by monthly direct debit an annual discount of 6%.
Pay this way, and EDF Energy’s Blue + Price Promise becomes than £140 a year cheaper than the average standard energy tariff for people who choose to pay by cash or cheque.
Please note: Any rates or deals mentioned in this article were available at the time of writing. Click on a highlighted product and apply direct