EDF joins energy price rises by adding 10.8% to its fuel bills
Another three million households face higher energy bills after EDF Energy yesterday became the latest supplier to increase tariffs.
The company will raise prices for domestic gas and electricity by 10.8%, meaning its typical dual-fuel bill for a direct debit customer will rise by £122 to £1,251 a year.
EDF, which is the fifth major supplier in recent weeks to announce higher prices, said the change will take effect from December 7.
E.ON is the only big supplier yet to announce price rises after it made a promise not to raise tariffs this year.
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EDF, which has 3.1 million customers and 5.5 million accounts overall, said its annual dual fuel bill was the lowest of the suppliers to have announced price rises so far.
Companies have blamed the changes on rising wholesale prices and increased running costs, especially for transporting gas and electricity to customers' homes, and the cost of energy efficiency programmes.
EDF director Martin Lawrence 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."
Downing Street described the latest price rises as "very disappointing".
A Number 10 spokeswoman said: "While we can't control world energy prices, we have been working very closely with the energy companies to make it easier for people to switch to find cheaper deals.
"We want to ensure customers get the lowest tariffs. That is why we are going to use the law to help people get the best deals."
Audrey Gallacher, director of energy at Consumer Focus, said: "Another price rise, hot on the heels of those we've already seen, will again feed into consumer concerns on pack behaviour and whether price changes are driven by real supply and demand issues."
Comments
by chuckjaeger
Monday, October 29 2012, 10:49PM
“I know increases in prices are bad but these are private companies whether we like it or not. EDF and British Gas (despite the name) have interests all over the world and are incredibly diverse businesses, domestic supply in the UK is just one small part of it.
Without these increases this part of their business would lose money. How can you expect a private company to subsidise customers bills in one part of it's business just because it makes money elsewhere?
It's like asking a baker to sell his bread cheaper than he makes it because he makes so much on pasties. By their very nature companies are designed to make and maximise profit. Apple has $120 billion in the bank but that doesn't mean they should give away free iPods.
I'm not saying I agree with it but whether utilities should be in public or private ownership is another debate.”
by Trecurnow
Sunday, October 28 2012, 2:16PM
“For possible cheaper energy costs sign up to this.You can opt out when the deal is done if you like.
http://tinyurl.com/8hkawz4”
by TheTakemon2
Saturday, October 27 2012, 11:32PM
“dee_2 - I compared my grandparents tariff online for them and printed out a list of the cheapest tariffs then then chose the one for them and rang up and switched! It only took me 10 minutes who wouldn't be willing to help their grandparents. Energy tariffs are just like any other thing you buy you have to shop around to get the best deal.”
by dee_2
Saturday, October 27 2012, 8:39PM
“There are some 558 different tariffs available at the moment. How does, say, a pensioner without internet access ever have a chance of getting a 'fair' deal?.
It wasn't that long ago that we all paid the same domestic tariff i.e. before Thatcher destroyed our manufacturing base and allowed all these foreign companies to rip off the British public.
Perhaps a vote for UKIP would begin to put right some of the destructive policies brought in by Thatcher and her successors in NuLabour.”
by 147ref
Saturday, October 27 2012, 7:34PM
“cameron grow some balls and tell these companies either drop the prices or you will set them, but guess that wont happen”
by TheTakemon2
Saturday, October 27 2012, 7:26PM
“What people need to realise is that they are companies and companies first aim is to make profit!. If people went on a fixed tariff like ant sensible persok would have when prices started to rise then they wouldnt have to worry. When most people are overpaying on expensive standard tariffs and cant even switch to a cheap tariff they cant really complain!”
by josdave
Saturday, October 27 2012, 2:43PM
“They're all the same British Gas announced 23% rise in profits and then announced a hike in prices. This is what you get with privatisation and it applies to all the services that have been sold down the river by one party or another. Profit first customer second always has been the case and always will be.”
by Stork
Saturday, October 27 2012, 2:01PM
“I think they made £1.6 billion profit last year. It's a shame they're so hard done by.”