Power giant EDF Energy has announced it’s hiking up its fuel prices by up to 19 per cent.
The company blamed the rise – the second time it’s increased prices this year – on soaring wholesale costs.
From the end of July it will charge 19 per cent more for gas and 8 per cent more for electricity through its retail brands Seeboard Energy, Sweb Energy, London Energy and EDF Energy.
This follows earlier price hikes in March of 4.7 per cent for electricity and 14.7 per cent for gas.
The company, which has more than 5 million customers, said households on fixed price deals would be unaffected.
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Adam Scorer of consumer advocate said it was disappointing that EDF Energy had raised prices for the second time in six months.
He added: ‘There is a wretched sense of inevitability about all of this. We know that wholesale energy prices are running at historic highs and show no sign of letting up. We know that means all the energy suppliers will be looking at their prices. It is bad news from EDF Energy today, and could get worse as others follow over the coming months.’
EDF Energy’s Chief Operating Officer, Derek Lickorish, said: ‘We have been absorbing some of the costs of increased wholesale prices in the hope they would ease. However, prices have remained high with little prospect for reduction in the foreseeable future. Reluctantly we now have to pass on a proportion of the resulting costs to customers.’
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