New Edf Eco 20 20 Tariff Rates Review
A current television campaign on behalf of EDF for their new eco 2020 tariff is currently being aired here’s our review and example rates.
The EDF eco 20 20 tariff has been around for a while now and is now part of a national television campaign. Although EDF have yet to reduce their gas prices in the current round of price cuts this tariff is geared to save you money during evenings and weekends.
Eco 20 20 Tariff Overview
Here’s what the tariff is designed for
- Discounts on electricity only
- Applied discounts off the standard tariff
- 20% discount on all weekend usage
- 20% discount on evening usage from 9pm to 7am GMT (or 10pm to 8am during British Summer time
- Customers already on economy 7 or economy 10 are not eligible for this tariff
Estimated savings from the standard tariff for an average electricity bill is just £37 per year.
Additional discounts can be had if you pay by monthly direct debit which adds up to 6% if you take a dual fuel tariff and they will also provide a £8.40 cash back on your bill on a dual fuel tariff. This is for a 12 month contract and if you switch out of this either to another EDF energy tariff or another provider you may be hit with a 50 early exit penalty.
Is this tariff for you ?
The eco 20 20 tariff really is competing with economy 7 where by you get a cheaper rate during off peak evening times although the added benefit of weekend discounts may at first appear attractive. This can be quite an expensive tariff and it will depend on how much electricity you use each year because there are a couple of band on the pricing as follows:
- There’s no standing charge (ie: no fixed amount you pay no matter how much electricity you use)
- The first 900 kwh of electric used on an annual basic is at 17.75p
- The rest is charged at 11.01p
- The eco 2020 is charged at 8.81p
If you compare this with their cheapest tariff which has a fixed daily charge of 22.37p and a unit rate thereafter for anything you use of 7.77p you see that perhaps the tariff is not as cheap as advertised.
The best you can do is to take your current usage figures and enter them into a price comparison tool to see if this will help you. Of course if you use most of your electricity in the evenings and weekends then this is certainly something to consider.
Getting a Quote
You can go to an independent price comparison site or alternative go to the EDF save today save tomorrow site as they also have all the energy prices and you can see at a glance how much savings you’ll make over your current utility provider.
If you like the sound of this tariff then you can sign up for it right away. You are also likely to have to change your meter to what they term a qualifying meter which would be a multi rate credit meter to support the tariff (because most meters can’t split the different rates). Additionally if you are already on an economy 7 or economy 10 product from any energy company you do not qualify for this tariff as EDF say in their terms and conditions you “are unlikely to receive any sustainable benefit from transferring to the Eco20:20 tariff”.