COMPARETHEMARKET.COM LAUNCHES EXCLUSIVE EDF TARIFF WITH £50 CASHBACK AS SOME UK HOUSEHOLDS FACE BILLS TOTALLING £125 MILLION

  • The new tariff also offers one-year free heating and boiler insurance
  • 61 fixed tariffs are coming to an end in February and March which could cost consumers nearly £125 million as they move on to more expensive variable tariffs
  • Major energy providers are expected to follow Npower and increase their standard variable tariffs in the coming months

6th February 2016 – A new and exclusive EDF tariff, offering £50 cashback and one-year free boiler and heating insurance, has today launched on comparethemarket.com. The new two-year fixed dual fuel tariff is called EDF Blue+Heating Protect Mar 19 and is open to comparethemarket.com customers from 6th February to 19th February.

The new energy tariff comes as 29 fixed tariffs are coming to an end in February and a further 32 tariffs set to end in March. The customers on these tariffs will move onto standard variable rates, collectively adding almost £125 million more to their annual energy bills if they don’t switch.

As energy prices continue to rise, the two-year fixed tariff will provide comfort for consumers who will likely face significant price hikes if they are on, or are moved onto, a standard variable tariff. Recently Npower increased the cost of its standard variable tariff by 9.8%, adding on average over £100 to bills and, according to recent research, this hike in variable tariffs is expected to happen across the board, with estimates indicating a 5 – 10% rise. The one-year free boiler and heating insurance on the new EDF tariff will also provide additional certainty for consumers, as a broken boiler can often cost more than £150 to repair.

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Peter Earl

Head of Energy

comparethemarket.com

“We think this represents a great deal for many energy shoppers. The launch of this tariff comes at an extremely important time for consumers, with Npower already hiking standard variable tariffs by over £100 and bills expected to rise by 5 – 10% across the board in the coming weeks. It is therefore sensible that people take advantage of the certainty that a fixed tariff can provide, meaning that they avoid any price rises. Recent switching figures demonstrate the scale of the standard variable tariff problem, with over 20 million households still facing unnecessarily high bills. The additional boiler and heating insurance, as well as the £50 cashback, will hopefully provide some welcome relief for consumers who make the time to switch.”

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