Households across Great Britain now have the chance to lock in a fixed energy tariff that is £300 cheaper than the current Ofgem price cap.
EDF has introduced its lowest fixed energy tariff since 2021, offering a potential lifeline to families facing ongoing energy cost pressures.
The new 12-month deal, Simply Fixed Direct May26, is available for an average dual-fuel customer paying by direct debit at £1,549 per year. This compares favourably with Ofgem’s current price cap, which stands at £1,849 as of April 2025.
EDF’s tariff stands out as the most competitive fixed-rate option currently available from any of the UK’s “big six” energy providers.
The offer is available only until 11:59pm on Sunday and can be cancelled at any time without an exit fee, offering flexibility as well as value.
Despite recent wholesale energy price drops, the energy market remains volatile due to geopolitical tensions and global supply issues.
EDF anticipates that its new tariff will continue to outperform the price cap, projecting it to remain at least £148 cheaper than July’s expected cap and around £111 cheaper throughout the coming winter.
The current price cap, which affects about 29 million households, is reviewed quarterly by Ofgem and adjusts based on wholesale prices and operational costs faced by suppliers. Analysts at Cornwall Insight, a leading energy consultancy, forecast the cap to fall by 9% in July, down to £1,683.
Although this would mark a decline, prices are still significantly higher than pre-2022 levels, when the global gas crisis—triggered by geopolitical conflicts—sent energy markets soaring.
A mild spring and ongoing economic uncertainty, including concerns surrounding the US-China trade tensions, have helped bring wholesale prices down slightly. Further small reductions in the energy price cap are expected in October and early 2026, but the market remains unpredictable.
Energy experts are encouraging households to shop around, as competition has returned to the market after a period of limited choice. Several fixed tariffs now undercut both the current and forecasted price caps.
While EDF’s deal is the cheapest among large suppliers, even more affordable options are available from smaller firms. Outfox the Market is currently offering the lowest 12-month fixed tariff on the market—Fix’d Dual May25 12M v5.0—at £1,517, around £332 below the price cap.
With at least 16 fixed deals already priced below the expected July cap, many households could save substantially by switching. Those who have not changed suppliers in over a year are likely on standard variable tariffs, which means they are paying rates dictated by the cap.
Energy prices continue to fluctuate, and securing a tariff that beats both the current and upcoming price caps could deliver significant annual savings. With no exit fees on many of these new deals, switching now offers both financial benefit and peace of mind.
Running a quick comparison online can reveal the best tariffs based on individual usage and location—potentially saving hundreds in the months ahead.
