EDF reveals gas and electricity price rises - Gas and electricity - News - Moneyfacts


EDF reveals gas and electricity price rises

EDF reveals gas and electricity price rises

Category: Gas and electricity

Updated: 15/09/2011
First Published: 15/09/2011

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 It is now over 6 months old so the content may be out of date.

The last of the major energy suppliers has confirmed it will be raising the price of its gas and electricity in November.

EDF Energy has revealed its residential gas prices will rise by 15.4% from 10 November.

At the same time, its standard residential electricity prices will rise by an average of 4.5%, an increase which the provider said is in line with inflation only.

EDF said the changes mean around 33 pence per day will be added to the average dual fuel bill.

According to Energyhelpline.com, those customers paying quarterly will see their annual bills rise by around £120, while those paying by monthly direct debit will see their yearly bills go up by £115.

Vincent de Rivaz, chief executive of EDF Energy, said the firm had absorbed rising wholesale energy, network and other costs as long as possible but must reluctantly now pass some of these through to consumers.

The announcement means all six of the UK 's major gas and electricity suppliers have increased prices for their domestic customers in time for the winter.

Scottish Power increased its gas and electricity prices for retail customers by 19% and 10% respectively from 1 August, while British Gas hit its average domestic gas customers by another 18% and its electricity customers for 16% from 18 August.

E.ON hiked its gas prices by 18.1% and its electricity prices by 11.4% on 13 September, while just a day later, customers of Scottish and Southern Energy saw household gas prices rise by 18% and household electricity prices increase by an average of 11%.

Npower has already confirmed its gas prices will increase by 15.7% on 1 October, with its electricity prices rising by 7.2% at the same time.

Mark Todd, director of the independent price comparison service Energyhelpline.com, said it was only a matter of time before EDF followed the rest of the 'Big Six' in raising prices.

"Consumers need to keep their eyes open because there are still lots of good deals being offered for those who are willing to switch," he added.

"Fixed rate deals of one to four years are available at lower costs than standard prices and there are internet rates offering savings of about £300 a year.

"In hard-pressed Britain today a £300 saving for 10 minutes work must be worth checking out.

"In fact, only yesterday, Scottish Power brought in a new online tariff at £990 showing money can be saved if people act promptly and switch. There is still competition in the energy industry but only if you are willing to switch."

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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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