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Mark founded MoneyMaxim in 2008, with the aim of delivering an impartial and independent service. Mark is a regular money saving expert in the press and writes regular news and articles for the MoneyMaxim news pages sharing his views on banking, personal insurance and the utilities (gas, electricity, mobile and home phones, broadband and pay TV) market with customers.
EDF launched their latest fixed price gas and electricity tariff yesterday, following the price increases they announced last week.
EDF, the energy giant have just launched a new fixed price gas and electricity tariff with rates held until 30th September, 2013.
At first look the pricing makes the tariff look expensive, and to attract the company will need customers to believe energy prices will rise considerably over the next 30 months.
With the results of an Ofgem inquiry into energy pricing due to report next month some customers may be minded to wait and see if it will have an immediate impact on prices, although Mark Bower, Managing Director of MoneyMaxim said ‘Personally I see little potential of prices falling in the short term, but for the EDF option to be beneficial prices will need to move upwards quite considerably over its term.”
"Our recommendation is to run an independent and impartial comparison using your households consumption to get an accurate picture. The MoneyMaxim energy service displays all tariffs and prices – and customers will note that the Fixed Price deal is a long way down the comparison list. It is however a tariff worth considering if customers believe that any further price increase would be totally unaffordable."
Mark Todd, Director at energyhelpline.com added "Even once Ofgem announces its findings, I think it is unlikely prices will come down, it's more likely that they will stay flat.
"But unless you want the security of a fix, I'd go for an online tariff.”