EDF Energy hikes gas and electricity prices by 11%

| October 26, 2012 | 0 Comments

By
Tara Evans

04:57 EST, 26 October 2012


|

11:23 EST, 26 October 2012


EDF Energy
has become the latest firm to hike gas and electricity bills for customers
adding 10.8 per cent to bills from 7 December – adding £120 a year.

The hike,
which will affect 3 million customers, is due to rising cost of distribution, efficiency,
buying energy and wholesale prices.

The energy
supplier is the fifth of the ‘big six’ firms to announce a price rise this
winter. It leaves E.ON as the only big supplier not to raise prices, although it is expected to put them up once its promise to hold prices expires at the end of the year.

Heating up: EDF Energy is pushing up gas and electricity bills for customers by nearly 11 per cent from December 7. It is the fifth of the 'big six' energy firms to impose a price rise this winter.

Heating up: EDF Energy is pushing up gas and electricity bills for customers by nearly 11 per cent from December 7. It is the fifth of the ‘big six’ energy firms to impose a price rise this winter.

A 9 per cent
rise from Scottish and Southern Energy (SSE) kicked in earlier this month,
while price increases from Scottish Power, British Gas and nPower will hit
customer bills before the end of the year.

The EDF hike
is the biggest percentage rise, so far, this year – however, a spokesman said
that its average price is still cheapest average tariff, even after the increase.

It brings an EDF
annual duel fuel direct debit bill to an average of £1,251, just £7 cheaper
than its nearest rival nPower which will charge customers £1,258 annually, after
its rise.

Audrey Gallacher, from Consumer Focus, said: ‘The latest energy price rise will leave even more customers worried about their energy bills. EDF Energy’s tariffs will still be slightly cheaper on average than other suppliers who have increased their prices – but this will be little comfort to those seeing a double-digit percentage rise on their bills.’

How much? How EDF Energy compares in the average duel fuel bill price league after the hike

How much? How EDF Energy compares in the average duel fuel bill price league after the hike

The news will come as a blow to millions of households who have little escape from energy price rises this winter just as the cold weather hits.

Ann Robinson, from uSwitch.com, said: ‘This is the final hammer blow for energy bills this side of Christmas. Consumers now face a winter of rationing their energy usage – many will be forced to turned their heating down or off for fear of the impact of these hikes.’

Mark Todd, from Energyhelpline.com, said: ‘The
energy price rise domino effect is in full swing, and we expect E.ON to
make their announcement soon for price increases in the New Year
.’

CHEAPEST ENERGY DEALS

If you’ve never switched before you could still save £400, on average, according to price comparison websites. If you switch regularly then it’s still worth checking to see if you’re on the best plan. You might even consider signing up to a fixed tariff which will guarantee prices, usually for two years, to protect you from future price hikes.

Disclaimer: Fixed tariffs are always a gamble because if prices did fall you wouldn’t be able to leave without paying a hefty fee.

The cheapest deals right now (based on average usage)

Cheapest fixed – OVO Energy’s New Energy Fixed plan. Fixed for 12 months from going live.
Longest fixed – EDF Energy’s Blue + Price March 2015 which is fixed till
March 2015 and Scottish Power’s Fixed Price Energy April which is also
also fixed until March 2015.
Cheapest online – First Utility’s iSave v12
Cheapest standard –  EON’s Energy plan

Source: uSwitch.com

EDF Energy
said that the rise is due to sharp increases in its costs since the start of the
year, with distribution charges going up by 9 per cent and energy efficiency
schemes increasing by more than 50 per cent.

A spokesman
also said that the cost of buying energy had gone up by 4 per cent, a fee which
makes up around 50 per cent of the typical gas and electricity bill.

Martin
Lawrence, from EDF Energy, said: ‘We know that customers will not welcome this
news and do not want to see prices going up.

‘Our new prices will however be
cheaper on average than those of all the other major suppliers which have
announced standard price rises so far this autumn.

‘We’ve taken
extra measures to make sure the most vulnerable benefit from the best deals and
we continue to help customers reduce their bills with energy efficiency measures.’

EDF also
added that it is the first supplier to automatically switch vulnerable
customers, for example those receiving pension credits, to its cheapest tariff,
benefitting 85,000 customers.

The comments below have not been moderated.

coop energy has no share holders they got my custom

danuk
,

lincoln, United Kingdom,
26/10/2012 17:55

You Brits must be the thickest Europeans of the lot. EDF is French owned and you do not see the huge hike in prices here in France. The French citizens would be tearing down the EDF offices if they tried it over here. I have been a life long advocate of fuel and water being public owned . Serves you right for voting in any politician who cannot deliver this simple neccessity.

philip harrison
,

preston,
26/10/2012 17:52

Worse than the banks…

Mark
,

Aberdeen, United Kingdom,
26/10/2012 17:47

Sue , Lancashire, 26/10/2012 16:42 — I had the same problem with British Gas. They wrote to say that they were increasing my direct debit by £7 per month, even though I was over £100 in credit. I responded by telling them “Like hell you are!”, and switched to another supplier. I got my credit back, plus a cheaper deal with another supplier. I despise British Gas. – Boethius, Manchester, 26/10/2012 17:35 – That is their other scam, reaping the interest off your money! That’s why they blackmail you into paying by DD, DD allows them to do it. :(

Dave
,

Southampton,
26/10/2012 17:45

Strange that in France EDF can only put up energy prices by the rate of inflation, same in Ireland and other countries, Also this government controls other industries but not these is there any reason?

Ambledown
,

Bude Cornwall,
26/10/2012 17:42

Hello Mr Cameron and Ofgem, this is just what the Energy Suppliers think of you, they will not listen to what you say because they know that they can charge what they want and you can do nothing to stop them.

Jim
,

Mansfield, United Kingdom,
26/10/2012 17:40

Sue , Lancashire, 26/10/2012 16:42 — I had the same problem with British Gas. They wrote to say that they were increasing my direct debit by £7 per month, even though I was over £100 in credit. I responded by telling them “Like hell you are!”, and switched to another supplier. I got my credit back, plus a cheaper deal with another supplier. I despise British Gas.

Boethius
,

Manchester,
26/10/2012 17:35

Cameron’s energy policy is the reason for this in spite of him pretending to be concerned. Energy firms are having to pay for this “free” insulation etc. It is nothing more than increased taxation though not showing as such.

Alan
,

Cheshire,
26/10/2012 17:33

- Urban Legend , Edinburgh, United Kingdom, 26/10/2012 17:06. Sadly you get reg flagged because so many people just want to moan and won’t help themselves by acting on advice such as you have given. In addition, there have been plenty of fixed price deals all summer for anyone who wanted one. People should at least make the effort to help themselves in the short term rather than just winge about a hopeless situation. I have both switched and fixed this summer as Npower would not offer a decent deal and I was not prepared to stay.

Richard
,

Oxford,
26/10/2012 17:32

It’s just simple price fixing. If it wasn’t, 1 or 2 companies would say “Hey, we’re going lower ours! :D” and snap up all the custom. Competition is dead, they make more money working together :(

Dave
,

Southampton,
26/10/2012 17:19

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