EDF Energy is the last of the ‘big six’ energy companies to raise standard gas and electricity prices as its ‘winter price freeze’ guarantee comes to an end.
The energy giant announced it will increase its standard prices by an average 6.5% for gas, and 7.5% for electricity from 2 March.
Rising wholesale energy prices and ‘non-energy costs, such as higher network charges and new environmental obligations’ had forced the company to make the move, EDF added.
According to the company’s own calculations, the price hike will cost customers on an average dual fuel bill (paid by direct debit) an extra £1.31 per week – or an extra £68 a year.
Beat the price hikes
Which? Switch’s Tom McLennan says: ‘EDF Energy’s price freeze isn’t ending so much as instantly evaporating. You didn’t need a crystal ball to see this price hike coming from a mile off, but that won’t be any comfort to consumers whose bills will be going up.
‘Make sure you’re not paying more than you need to for your energy by switching to an online, monthly direct debit tariff, as these are usually the cheapest available.’
You can compare all the gas and electricity tariffs on the market and find the best deal to suit your energy use using Which? Switch, our free and accredited energy comparison and switching service.
The typical annual saving per household that switched to a dual fuel tariff with Which? Switch between 24 March 2010 and 9 September 2010 was £270.
£68increase on the average annual EDF Energy dual fuel bill as a result of the hike
EDF Energy price increase
The pricing move follows in the footsteps of the other big six energy suppliers – British Gas, Npower, Eon, Scottish Power and Scottish and Southern Energy. Unlike the other big energy firms, EDF Energy committed not to increase prices over the winter as part of its ‘winter price freeze guarantee’ – a guarantee that runs out just a day before the new prices kick in.
According to government consumer body Consumer Focus, it will mean an average EDF Energy customer will now pay £1,051 a year if they’re a direct debit customer, or £1,118 if they choose to pay by cash, cheque or are on a prepayment meter.
EDF Energy’s last price rise – a ‘corrective’ increase in electricity prices of 2.5% – came into effect on 1 October 2010. It last raised gas prices in 2009.
How the price hikes measure up
Millions of customers still on standard tariffs will be experiencing – or about to experience – bumped up bills, with today’s announcement, meaning that from 2 March the average gas and electricity customer will be paying an extra £66 as a result of recent price rises.
Recent price increases mean that, on average, Scottish Power bills have gone up by £52, Npower’s by £65, Scottish and Southern Energy (SSE) by £67, Eon’s by £62 and British Gas by £80.
To see how the big names in the energy market compare on areas including value for money, customer service and bills, have a look at our energy supplier satisfaction survey.
Lower your gas and electricity bills
You can compare energy prices and switch to a new gas and electricity supplier on Which? Switch. People who switched with us between 1 October and 31 December 2013 are predicted to save an average of £234 a year on their bills.
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