EDF Announces Energy Price Hike of 15%

EDF energy has announced plans to increase the cost of gas by 15.4%, and electricity by 4.5%, which will come into effect from 10th November.

The last of the ìbig 6î energy suppliers to raise prices for domestic customers claimed to have absorbed the cost of wholesale prices for as long as possible.

EDF energy claims to be the cheapest dual fuel supplier, at £53 less than its competitors.

And whilst they have held back on announcing future pricing plans, customers could have saved £30 in the three months since the first energy supplier (Scottish Power) introduced higher charges at the beginning of August.

Vincent de Rivaz, Chief Executive of EDF Energy, said; ìWe have absorbed rising wholesale energy, network and other costs as long as possible but must reluctantly now pass some of these through to consumers.

ìHowever, unlike some other suppliers we have been able to give protection to our customers, particularly for their electricity consumption, because of our choice to invest in low carbon nuclear generation, which enjoys stable costs compared to gas and coal and has had a strong performance this year.î

EDF Energy says the price changes will add 33p per day to the dual fuel bill. This means that the annual duel fuel bill paid for via direct debit will increase from £1,051 to £1,165.

Industry regulator Ofgem is currently investigating price hikes from the leading energy suppliers to see if they are justified. It was recently revealed that prices over the last year have increased faster than the rate of wholesale gas and electricity.

ìWe recognise there remains a widespread lack of understanding and suspicion of the industry as a whole, among the public, customers in general, politicians, regulators and others. It is important this perception is addressed,î continued Mr. Rivaz.

Now is the ideal time to compare gas and electricity with MoneyExpert and switch supplier to find the best deal for your particular circumstances.

Some energy suppliers have increased their prices by up to 19% for consumers;

Scottish Power increased their electricity by 10% and their gas by 19%.

British Gas increased their electricity by 16% and their gas by 18.

Southern and Scottish Electric increased their electricity by 11% and their gas by 18%.

E.ON increased their electricity by 11.4% and their gas by 18.1%.

Npower increased their electricity by 7.2% and their gas by 15.7%.

 

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