EDF slashes standing charges by £100 with new tracker energy tariff | Personal Finance | Finance

EDF has launched a new tracker energy tariff designed to offer consistent savings by discounting standing charges by £100.

The tariff, the Simply Tracker Extra Apr26, replaces EDF’s Simply Tracker Mar26 and tracks Standard Variable prices, ensuring it consistently undercuts Ofgem’s price cap by £100.

Customers will receive guaranteed savings of £50 per fuel, applied directly to standing charges.

Standing charges are fixed daily costs that cover electricity and gas supply to homes. By discounting standing charges instead of unit rates, EDF ensures all customers – whether low-energy users or those with a Pay As You Go meter – benefit equally.

This approach avoids fluctuations in savings that typically occur when discounts are applied to unit rates based on consumption.

EDF explained the discount is possible because it buys energy in advance, passing on the savings to customers through lower standing charges.

For a dual fuel customer paying by direct debit, the new tariff offers an annual average bill of £1,638, based on the January 1 price cap level.

EDF director of retail Rich Hughes said: “With our new tracker tariff, customers can rest assured that no matter what happens with energy prices over the next year, they will always save £100 against the price cap.

“The tariff also ensures all customers benefit equally from predictable cost savings, while supporting those taking steps to reduce their carbon footprint.”

The Simply Tracker Extra Apr26 tariff is available to new and existing customers on Direct Debit, Cash Cheque, and Pay As You Go, but only for a limited time.

Customers can sign up online through MyAccount or the EDF app, and smart meters can be installed at no extra cost, offering additional benefits through EDF’s Energy Hub platform. Customers can access a personalised view of their energy use through the platform.

For an extra £50 off their bill, EDF customers can also participate in the ‘Refer a Friend’ programme through MyAccount.