EDF Energy announces energy price rises - Gas and electricity - News - Moneyfacts

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EDF Energy announces energy price rises

EDF Energy announces energy price rises

Category: Gas and electricity

Updated: 14/12/2012
First Published: 04/02/2011

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This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

EDF Energy has become the last of the UK 's six major energy suppliers to announce a price rise for its customers. On its standard tariffs, prices will rise by an average of 6.5% on electricity and 7.5% for gas. This means that a typical fuel bill will rise from £983 per year to £1,051 per year. The rise in prices will be effective from 2 March 2011.

It means that all six major gas and electricity providers have increased prices on their standard tariffs.

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And, as was the case with other energy providers, EDF Energy said that increasing wholesale prices and non-energy costs – such as levies to improve the network and environmental obligations – had forced the company's hand.

EDF Energy has defended the increase, saying that it hoped customers would recognise its efforts to freeze prices over a bitter winter period.

"We have delayed the increase until the end of a particularly difficult winter, which included the coldest December in 100 years," said Martin Lawrence, managing director, energy sourcing and customer supply at EDF Energy.

The decision to implement a price rise has been attacked by a consumer watchdog, however, as the increase comes just months after EDF Energy increased its electricity prices.

"EDF Energy's customers will be hugely disappointed that the supplier has chosen to up its prices as soon as possible after its price freeze ends," Audrey Gallacher, head of energy at Consumer Focus, said.

"Consumers will be further annoyed that this rise is even higher than that of most other energy suppliers, particularly given that the firm already increased electricity prices in October."

Consumer Focus also wants the following changes to improve transparency on pricing:
· The Government should embrace new EU legislation which will soon offer Ofgem the opportunity to force the big six to disclose the price they pay for energy.
· All companies should also be required to produce accounts that credibly break down their profits and margins.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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