Energy provider launches tariff priced £300 below price cap

has launched a new fixed tariff offering the lowest fixed prices from the supplier in more than three years.

The Simply Fixed Direct May 26 tariff is priced at £1,549 for an average dual fuel household paying by direct debit - £300 below current energy price cap of £1,849. The tariff, which runs for 12 months, is available to both new and existing EDF customers, with no requirement for a smart meter and no exit fees for those who sign up directly through EDF. EDF forecasts that the new deal will continue to beat the price cap in the coming year.

According to the supplier's own predictions, the tariff is expected to remain at least £154 cheaper than the July 2025 price cap, and £143 below the winter cap.

Rich Hughes, director of retail at EDF, said: "Priced at £300 below Ofgem's current price cap, our new fixed deal gives customers a rare opportunity to lock these lowest prices in now and enjoy price stability for the next 12 months.

"While wholesale costs have dropped, the market remains unstable, and global factors could push prices up again. Given the volatility, we advise households to consider fixed or tracker tariffs."

Due to ongoing instability in global wholesale markets, EDF has warned that the deal could be withdrawn at any time.

In addition to its fixed tariff offer, EDF continues to promote its , which rewards customers for shifting electricity usage away from peak weekday hours (4pm to 7pm).

Participants can earn up to 16 hours of free the following Sunday by adjusting their usage patterns.

EDF is also running a refer-a-friend scheme, offering £50 off energy bills for both the referrer and the new customer.

Existing EDF customers can sign up for the new tariff via MyAccount or the EDF app, while new customers can join via the EDF website.