Martin Lewis: money saving expert highlights EDF energy tariff that saves you £50 on gas and electric bills

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The tariff could save you £50 a year, even if you still use the same amount of energy 🔥⚡
  • Martin Lewis' Money Saving Expert has highlighted EDF Energy's new Ensure tariff
  • Ensure offers a £50 annual saving by reducing fixed daily standing charges, not unit rates
  • The tariff mirrors Ofgem's price cap adjustments, starting with the cheaper July rate for immediate savings
  • EDF will apply a £25 annual discount on both electricity and gas standing charges across all regions
  • It is eligible to most customers, including those with prepayment meters

Martin Lewis’ Money Saving Expert team has highlighted a new energy tariff aimed at addressing public frustration over high standing charges set by energy regulator Ofgem under its energy price cap.

EDF Energy’s Ensure tracker tariff offers a £50 annual saving compared to the price cap by reducing standing charges rather than unit rates.

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This tariff is particularly advantageous for lower energy consumers, such as those spending up to £100 monthly.

How does it work?

The energy price cap, set by Ofgem, limits the maximum rates energy firms can charge on standard tariffs.

The majority of households in England, Scotland and Wales are on these price-capped tariffs, where most providers charge rates close to the cap - as a money-making business, why wouldn’t you charge as much as you are allowed to?

The price cap is adjusted every three months on 1 January, 1 April, 1 July, and 1 October, and essentially sets the benchmark for what consumers pay. The next changes will come in in July.

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A file photo of a handheld smart meter on a kitchen hob showing the cost of a year-to-date's worth of home energy usage in a home. PIC: Yui Mok/PA WireA file photo of a handheld smart meter on a kitchen hob showing the cost of a year-to-date's worth of home energy usage in a home. PIC: Yui Mok/PA Wire
A file photo of a handheld smart meter on a kitchen hob showing the cost of a year-to-date's worth of home energy usage in a home. PIC: Yui Mok/PA Wire

Normally, standing charges are fixed daily fees for having access to gas and electricity. But Ensure operates as a tracker tariff, mirroring changes in the price cap every three months, reducing these standing charges by £25 each for both electricity and gas over a year.

It has been launched with the reduced July rate a couple of weeks before the cap actually changes. That means by switching now, customers can benefit from initial savings even before the price cap adjusts.

EDF confirmed to MSE that it will apply a fixed discount of £25 annually on both electricity and gas standing charges for all payment methods across all regions, despite regional variations in standing charges.

Who is eligible for the tariff?

EDF Ensure is particularly beneficial to consumers with lower energy usage, and can help to reduce overall costs without reducing consumption.

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The tariff is accessible to most customers - including those using prepayment meters - and dual-fuel and single-energy users.

It supports various payment methods, such as Direct Debit, pay upon receipt of bill and prepayment.

There is a payable exit fee if you leave the tariff before the end of the year; you’ll have to pay £25 per fuel, a minimal penalty considering it actually matches the annual discount.

This gives customers at least some flexibility to switch to potentially cheaper tariffs elsewhere if they arise.

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How to get it

New customers can obtain a quote and switch online, while existing customers can apply through their online account or via the EDF app.

Will you be switching to EDF's Ensure tariff or are you considering it? What are your experiences with energy tariffs and how do you navigate the complexities of energy bills? Join the conversation and share your thoughts in the comments section.

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