EDF Energy has announced it will cut gas prices by 5%, making it the first major energy supplier to lower prices this year.
The move, effective from 7 February, follows in the footsteps of smaller energy firms Co-operative Energy and Ovo Energy, who have already announced price decreases.
Gas price cut
The price cut will be on gas, and not electricity. EDF Energy was the last of the major energy companies to raise its prices after it upped gas by 15% and electricity by 4.5% in November.
Which? executive director Richard Lloyd says: ‘This gas price cut will be welcome news for millions of consumers with already squeezed household budgets. But it follows a hike of 15% last November. Now the pressure is on for the rest of the major suppliers to follow suit. But as our survey today shows, there remain huge problems with customer service in energy as well as high prices.’
Find out how each energy company was rated in the latest Which? Switch energy satisfaction survey, published today, revealing the best and worst energy suppliers. In all, 43% of customers said they were satisfied with EDF Energy – a score much lower than top-scoring Good Energy (84%).
EDF not the cheapest
Co-operative Energy and Ovo Energy set the trend this winter by both announcing a drop in prices, taking effect from 1 February and 6 January respectively. But whilst EDF Energy claims that its new standard dual fuel prices will be cheaper ‘at typical use’ than standard deals currently offered by all its major competitors, other tariffs – particularly online discounted deals – might well work out cheaper overall.
EDF Energy said that since it had announced it would put up bills from 10 November last year, the wholesale price of gas had fallen by 9.2%.
- See if you can save money using Which? Switch by changing your gas and electricity supplier
- Find out how you can get involved in Which?’s affordable energy campaign
- Read our guide and top tips on how to complain about your energy provider