EDF Go renew or not?

[94jdh]

Unfortunately it's that's time for renewal and have just received information on a new Go tariff (fixed June 24) or move on to SVR.

Currently on 19p/kWh Day rate & 8p/kWh Night.
Gas is approximately 2.8p/kWh.

The renewal offer for Go being as follow:
Day rate 37.8p/kWh Night rate 16.3p/kWh.
Gas 8.412p/kWh.

SVR as follows:
Day rate 23.47p/kWh Night rate 12.98/kWh.
Gas 3.98p/kWh.

Based on my previous years usage, the new Go tariff would be £4.321/year, SVR £2,553/year.

I'm looking at moving to the SVR ( as generally recommended) but potentially 51% increase in April and a further 20% later in the year, is it the right gamble considering this could go up ( or down) the following 18 months.

Anybody in a similar position with Go - opinions please?

 

[Jason71]

There is a tarrif called EDF Go? that's confusing most people on the forum are on Octopus go normally when people refer to the "go tariff" everyone assumes it's that .

Octopus Go has of course increase a lot ( I won't tell you what I am paying for a few more weeks ) but it is still competitive with those. problem is not sure they would take you on and you need a smart meter. night is only 4 hours
Unit rate (04:30 - 00:30):
30.78p/ kWh
Unit rate (00:30 - 04:30):
7.50p/ kWh
Standing Charge:
25.08p/ day

BTW there is no reason to have gas and electric with the same company. dual fuel discounts are BS. I have always found the cheapest gas price and the cheapest electric price are always better than the best dual deals. Of course all bets are off these days its a new world but just something to bear in mind.

 

[JonB]

Here's a general view. EDF will have priced their predictions of future energy costs into any fixed deal they offer. They'd be mad not to. They don't even need to have their own opinions on this as they can look at the energy futures market to have a general feel of where everyone else thinks the prices are going.

This recent video by Martin Lewis might help you.

Can you look to switching or is no one accepting new customers at the moment?

Those Go prices are horrendous. I wouldn't stay on that. If you look at the SVR and assume it goes up by 50% it'll not be far off the new Go rates - see what I mean? Theya already priced in the expected cap rise into them.

For comparison, I'm also with EDF and got a 3 year fix:

Electricity day unit rate: 24.76p per kWh
Electricity night unit rate: 9.76p per kWh
Daily standing charge: 24.12p per day

Gas unit rate: 3.898p per kWh
Daily standing charge: 19.82p per day

I used to think that was a bit stiff, but now I'm not so sure...

 

[94jdh]

Here's a general view. EDF will have priced their predictions of future energy costs into any fixed deal they offer. They'd be mad not to. They don't even need to have their own opinions on this as they can look at the energy futures market to have a general f

There is a tarrif called EDF Go? that's confusing most people on the forum are on Octopus go normally when people refer to the "go tariff" everyone assumes it's that .

Octopus Go has of course increase a lot ( I won't tell you what I am paying for a few more weeks ) but it is still competitive with those. problem is not sure they would take you on and you need a smart meter. night is only 4 hours
Unit rate (04:30 - 00:30):
30.78p/ kWh
Unit rate (00:30 - 04:30):
7.50p/ kWh
Standing Charge:
25.08p/ day

BTW there is no reason to have gas and electric with the same company. dual fuel discounts are BS. I have always found the cheapest gas price and the cheapest electric price are always better than the best dual deals. Of course all bets are off these days its a new world but just something to bear in mind.

eel of where everyone else thinks the prices are going.

This recent video by Martin Lewis might help you.

Can you look to switching or is no one accepting new customers at the moment?

Those Go prices are horrendous. I wouldn't stay on that. If you look at the SVR and assume it goes up by 50% it'll not be far off the new Go rates - see what I mean? Theya already priced in the expected cap rise into them.

For comparison, I'm also with EDF and got a 3 year fix:

Electricity day unit rate: 24.76p per kWh
Electricity night unit rate: 9.76p per kWh
Daily standing charge: 24.12p per day

Gas unit rate: 3.898p per kWh
Daily standing charge: 19.82p per day

I used to think that was a bit stiff, but now I'm not so sure...

Yes EDF Go 98 which suited as 10 hrs during the night and all weekend at the low rate.

I watched Martin Lewis previously, same video, yes the figures seem to account for the projected increase - the unknown with both is the following 18 months which is the problem for everyone I suppose.

Edit: Go rates mean you have to sign up to both electricity and Gas.

 

[yessuz]

I am so worries as my octopus go electricity end up in march...

 

[pdk42]

It's EDF "GoElectric", not "Go". "Go" is Octopus. But... in my comparison that I did just last week, the new Octopus Go rates are still lower than any of EDF's GoElectric tariffs, at least for my usage. This is a comparison I did for my last few months of usage:

Total cost current Go​	​	​	​	​
​	138​	Days​	0.2500​	34.50​
​	1949.894​	kWh off peak​	0.0500​	97.49​
​	1636.501​	kWh peak​	0.1345​	220.11​
​	​	​	​	352.10​
New Go​	​	​	​	​
​	138​	Days​	0.2376​	32.79​
​	1949.894​	kWh off peak​	0.0750​	146.24​
​	1636.501​	kWh peak​	0.3023​	494.71​
​	​	​	​	673.75​
​	​	​	​	​
EDF Single​	138​	Days​	0.3381​	46.66​
​	1949.894​	kWh off peak​	0.2709​	528.23​
​	1636.501​	kWh peak​	0.2709​	443.33​
​	​	​	​	1018.21​
​	​	​	​	​
EDF 98​	​	​	​	​
​	138​	Days​	0.3381​	46.66​
​	1949.894​	kWh off peak​	0.178​	347.08​
​	1636.501​	kWh peak​	0.3804​	622.52​
​	​	​	​	1016.26​
​	​	​	​	​
EDF 35​	​	​	​	​
​	138​	Days​	0.3695​	50.99​
​	1949.894​	kWh off peak​	0.045​	87.75​
​	1636.501​	kWh peak​	0.3699​	605.34​
​	​	​	​	744.08​

 

[pdk42]

BTW - here are the EDF rates => https://www.edfenergy.com/sites/default/files/goelectric_rate_card_jan24.pdf

 

[94jdh]

It's EDF "GoElectric", not "Go". "Go" is Octopus. But... in my comparison that I did just last week, the new Octopus Go rates are still lower than any of EDF's GoElectric tariffs, at least for my usage. This is a comparison I did for my last few months of usage:

Total cost current Go​	​	​	​	​
​	138​	Days​	0.2500​	34.50​
​	1949.894​	kWh off peak​	0.0500​	97.49​
​	1636.501​	kWh peak​	0.1345​	220.11​
​	​	​	​	352.10​
New Go​	​	​	​	​
​	138​	Days​	0.2376​	32.79​
​	1949.894​	kWh off peak​	0.0750​	146.24​
​	1636.501​	kWh peak​	0.3023​	494.71​
​	​	​	​	673.75​
​	​	​	​	​
EDF Single​	138​	Days​	0.3381​	46.66​
​	1949.894​	kWh off peak​	0.2709​	528.23​
​	1636.501​	kWh peak​	0.2709​	443.33​
​	​	​	​	1018.21​
​	​	​	​	​
EDF 98​	​	​	​	​
​	138​	Days​	0.3381​	46.66​
​	1949.894​	kWh off peak​	0.178​	347.08​
​	1636.501​	kWh peak​	0.3804​	622.52​
​	​	​	​	1016.26​
​	​	​	​	​
EDF 35​	​	​	​	​
​	138​	Days​	0.3695​	50.99​
​	1949.894​	kWh off peak​	0.045​	87.75​
​	1636.501​	kWh peak​	0.3699​	605.34​
​	​	​	​	744.08​

Yes my mistake with Go and not Go electric! With regards to your calculations as complete like for like usage on units, the bill will be cheaper.
However, since my usage is skewed to around 65% on the 98 hours rate (10 hours M-F & 48 hours weekend) it wouldn't be cheaper for me currently.
Going forward obviously is a different problem entirely!

 

[Jason71]

Can you look to switching or is no one accepting new customers at the moment?

legally they cannot refuse new customers under the ofgen rules otherwise people could be left with no supplier is my understanding.
but they don't have to give you anything other than the price cap rate.
they are all making it as hard as possible but removing option to switch on online etc. but if you can get hold of them they cannot actually refuse to take you on I believe

 

[94jdh]

legally they cannot refuse new customers under the ofgen rules otherwise people could be left with no supplier is my understanding.
but they don't have to give you anything other than the price cap rate.
they are all making it as hard as possible but removing option to switch on online etc. but if you can get hold of them they cannot actually refuse to take you on I believe

Yes agreed, I think I will just risk the SVR with the hope things change - exit fees for the fixed are £300 as well.

 

[94jdh]

It's EDF "GoElectric", not "Go". "Go" is Octopus. But... in my comparison that I did just last week, the new Octopus Go rates are still lower than any of EDF's GoElectric tariffs, at least for my usage. This is a comparison I did for my last few months of usage:

Total cost current Go​	​	​	​	​
​	138​	Days​	0.2500​	34.50​
​	1949.894​	kWh off peak​	0.0500​	97.49​
​	1636.501​	kWh peak​	0.1345​	220.11​
​	​	​	​	352.10​
New Go​	​	​	​	​
​	138​	Days​	0.2376​	32.79​
​	1949.894​	kWh off peak​	0.0750​	146.24​
​	1636.501​	kWh peak​	0.3023​	494.71​
​	​	​	​	673.75​
​	​	​	​	​
EDF Single​	138​	Days​	0.3381​	46.66​
​	1949.894​	kWh off peak​	0.2709​	528.23​
​	1636.501​	kWh peak​	0.2709​	443.33​
​	​	​	​	1018.21​
​	​	​	​	​
EDF 98​	​	​	​	​
​	138​	Days​	0.3381​	46.66​
​	1949.894​	kWh off peak​	0.178​	347.08​
​	1636.501​	kWh peak​	0.3804​	622.52​
​	​	​	​	1016.26​
​	​	​	​	​
EDF 35​	​	​	​	​
​	138​	Days​	0.3695​	50.99​
​	1949.894​	kWh off peak​	0.045​	87.75​
​	1636.501​	kWh peak​	0.3699​	605.34​
​	​	​	​	744.08​

A quick review of your spreadsheet - I can't see where you have taken into consideration the extra hours at off peak rate that would be benefit from the EDF Go (electric) 35 or 98? Am I missing something as you are only comparing the kWh used and not allowed for a reduction in peak and an increase in off peak usage?

 

[qwickshot]

This is unfortunately a spreadsheet job that no one can really help you with as only you know how much usage falls into each period.

 

[pdk42]

A quick review of your spreadsheet - I can't see where you have taken into consideration the extra hours at off peak rate that would be benefit from the EDF Go (electric) 35 or 98? Am I missing something as you are only comparing the kWh used and not allowed for a reduction in peak and an increase in off peak usage?

That’s true - but I still manage to do 95%+ of my charging in the 4 hour Go window, so the extra time of the EDF tariffs wouldn’t make much difference to me. YMMV of course! I did say “at least for my usage” in the preamble.

 

[init6]

This is unfortunately a spreadsheet job that no one can really help you with as only you know how much usage falls into each period.

Also, you can't compare prices with people in different regions. Octopus are currently showing up to 5p a unit difference between regions.

 

[94jdh]

That’s true - but I still manage to do 95%+ of my charging in the 4 hour Go window, so the extra time of the EDF tariffs wouldn’t make much difference to me. YMMV of course! I did say “at least for my usage” in the preamble.

If you don't have any usage outside of that 4 hour window I suppose it does suit you - I've found my usage for falls into that weekend as evening category ( kids over, TVs etc ) so I did benefit considerably outside of the car charging.

 

[TCB-UK]

Unfortunately it's that's time for renewal and have just received information on a new Go tariff (fixed June 24) or move on to SVR.

Currently on 19p/kWh Day rate & 8p/kWh Night.
Gas is approximately 2.8p/kWh.

The renewal offer for Go being as follow:
Day rate 37.8p/kWh Night rate 16.3p/kWh.
Gas 8.412p/kWh.

SVR as follows:
Day rate 23.47p/kWh Night rate 12.98/kWh.
Gas 3.98p/kWh.

Based on my previous years usage, the new Go tariff would be £4.321/year, SVR £2,553/year.

I'm looking at moving to the SVR ( as generally recommended) but potentially 51% increase in April and a further 20% later in the year, is it the right gamble considering this could go up ( or down) the following 18 months.

Anybody in a similar position with Go - opinions please?

I am in exactly the same position as you with edf and am currently on the GoElectric 98 tariff which ends in 30 minutes!

I have decided to gamble and move to the Standard Variable as that will be cheaper initially, although it may increase up to similar levels as the Go Electric June 24 tariff when the price gap goes up in April.

With the pressure on the Government over cost of living etc, there is always a possibility that the Government may keep the cap rise in April lower than the 40-50% increase being predicted, whether that is being subsidising it, or by reducing VAT etc.

In making this decision I assume that the night rate on the Standard Variable covers the same 10hrs per night and 48hrs over the weekend.

Time will tell if I have made the right decision.

PS I have just changed the car to ensure I make use of the low night right for the last time!

 

[94jdh]

I am in exactly the same position as you with edf and am currently on the GoElectric 98 tariff which ends in 30 minutes!

I have decided to gamble and move to the Standard Variable as that will be cheaper initially, although it may increase up to similar levels as the Go Electric June 24 tariff when the price gap goes up in April.

With the pressure on the Government over cost of living etc, there is always a possibility that the Government may keep the cap rise in April lower than the 40-50% increase being predicted, whether that is being subsidising it, or by reducing VAT etc.

In making this decision I assume that the night rate on the Standard Variable covers the same 10hrs per night and 48hrs over the weekend.

Time will tell if I have made the right decision.

PS I have just changed the car to ensure I make use of the low night right for the last time!

I've also decided to stay with the SVR with similar hopes of interventions - however I'm not convinced they will do anything.

I don't think the off peak rate will cover the 98 hours - only the night period but I could be wrong and welcome the benefit of all weekend!

 

[94jdh]

I am in exactly the same position as you with edf and am currently on the GoElectric 98 tariff which ends in 30 minutes!

I have decided to gamble and move to the Standard Variable as that will be cheaper initially, although it may increase up to similar levels as the Go Electric June 24 tariff when the price gap goes up in April.

With the pressure on the Government over cost of living etc, there is always a possibility that the Government may keep the cap rise in April lower than the 40-50% increase being predicted, whether that is being subsidising it, or by reducing VAT etc.

In making this decision I assume that the night rate on the Standard Variable covers the same 10hrs per night and 48hrs over the weekend.

Time will tell if I have made the right decision.

PS I have just changed the car to ensure I make use of the low night right for the last time!

Well looking at my new tariff it's called eco20:20 which does provide all weekend at the cheaper rate according to the terms - will monitor it this weekend.

 

[TCB-UK]

Well looking at my new tariff it's called eco20:20 which does provide all weekend at the cheaper rate according to the terms - will monitor it this weekend.

I am also on the eco20:20 now and I agree that it does appear to cover all weekend at the cheaper rate.

 

[94jdh]

I am also on the eco20:20 now and I agree that it does appear to cover all weekend at the cheaper rate.

I also saw something elsewhere that referred to a lower rate after around 950kWh used, but I'm guessing that's been removed under the circumstances.