A new tariff that provides consumers fixed prices for 16 months has been launched by EDF Energy today.

The Blue+Price Promise July 2015, which will replace the supplier’s existing shorter-term fixed tariff, will cost a typical duel fuel customer £1,070 a year.

Customers who switch to the new tariff will have fixed prices until July next year and will be charged no exit fees should they wish to leave.

Beatrice Bigois, Managing Director of Customers at EDF Energy said: “Blue+Price Promise July 2015 guarantees peace of mind, allowing customers to fix their prices till July 2015. And unlike some products offered by other energy suppliers, customers have the flexibility to leave for free at any point if they find a better tariff.

“It’s an example of how we’re listening to our customers and taking action to bear down on rising costs and we will continue in our efforts to do so.”

The energy firm is also extending the length of it longer-term fixed price product Blue+Price Freeeeze, which will allow customers to fix their prices for four months longer – up to July 2017 – at £8 a year extra.

The annual dual fuel bill for a customer on the Blue+Price Freeeeze July 2017 tariff would be £1,210.