The Online Saver 6 tariff, which was estimated to cost £904 a year for an average family, will now be replaced with the more expensive Online Saver 7, which is estimated to cost the average household £968 annually.
According to EDF, the Online Saver 7 is a variable price product, which means that the rates may change. The energy provider said, however, that Online Saver 7 rates will be kept at least two per cent lower than its standard tariff until December 31st 2011.
If consumers switch energy providers before this date, they may be liable to an early termination fee of £30 for gas, £30 for electricity and £60 for customers on a dual fuel deal.
The move has prompted speculation that other energy suppliers will be pulling their cheapest rates from the market over the coming months.
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