April 12, 2017
"Big Six" Energy Supplier, EDF, has announced further rises in gas and electricity prices for UK customers. The energy company has blaming rising wholesale prices and the costs of delivering UK energy policy for the decision.
The supplier was the first major energy provider to announce an increase in electricity prices last December. Four of the other "big six" providers have since followed suit, with only British Gas keeping prices on hold.
From 21 June, customers on EDF's standard tariff will see electricity prices increase by 9% and gas prices go up by 5.5%.
The supplier previously increased electricity prices by 8.4% on 1 March, although it cut gas prices in January.
The two rises together will affect around 1.5m customers, and lead to a whopping 8.5% increase in bills for a dual fuel direct debit customer. This equates to an extra £78 a year and an average annual bill of £1,160. The bulk of EDF's customers (1.8 million) are on fixed term deals, so will not be affected until their deal ends.
The energy regulator, Ofgem, has criticised the decision. Dermot Nolan, its chief executive, said:
"EDF's second price rise in four months, when there has not been a dramatic rise in wholesale energy prices since it last put up prices, is difficult to justify and is further evidence that the energy market is not working in all consumers' interests."
So far this year, 5 of the "Big Six" energy suppliers have announced price increases with only British Gas announcing a "prize freeze" until August.
• E.On is increasing electricity prices by an average of 13.8%, and gas prices by 3.8%, on 26th April.
• SSE raised gas prices 14.9% effective from April 28th.
• Npower raised its standard tariff electricity prices by 15% from 16th March and gas prices by 4.8%.
• Scottish Power's standard electricity prices increased by an average of 10.8% and gas by 4.7% on 31st March.
Energylinx would like to urge all customers that are on a standard tariff to compare the whole market and see what deals are available to you. You could take hundreds off your annual energy bill in just a few minutes. You can use our website or call one of our friendly advisers who will sort it for you and answer any questions you may have. The number to ring is 01259 220000.
Posted on April 12, 2017 at 02:14 PM