EDF Energy has become the latest of the big six energy companies to announce price rises this winter, with an inflation-busting 10.8% rise in its gas and electricity prices.
The company supplies 5.5m homes and businesses across the UK, and a typical standard variable dual-fuel energy bill will cost £122 more a year. The price rise comes into effect on 7 December 2012.
In response to EDF’s announcement, Which? executive director Richard Lloyd said:
‘This price rise by EDF comes as no surprise, following on from the recent announcements of four other major energy suppliers. Consumers are bound to question whether this latest wave of price rises are fair.
Most people struggle to identify the best deal for them and that’s why the Prime Minister’s promise to ensure suppliers are giving consumers their lowest tariff is so important. He must now deliver on his promise to help hard-pressed consumers who are worrying about how they will cope with this latest round of bill hikes.’
Which? is campaigning for affordable energy – you can join our campaign here.
Gas and electricity prices increase
EDF is the latest of the energy giants to announce price rises. Earlier this month, British Gas said energy bills would rise by 6%, Scottish Power raised prices by 7%, and Npower and SSE both increased prices by around 9%. Eon is the only major energy company not to have raised prices this year, with the company pledging not to raise standard residential prices in 2012.
EDF blames the price rises on rising network costs, mandatory energy efficiency and social scheme costs, as well as the rising wholesale price of energy.
If you’re on a fixed-price energy tariff and your energy company raises its prices, you can switch without paying any exit fees. Find out how to complain about your energy price rises.
Cheapest energy deal
With winter approaching, prices going up and a feeling that other suppliers may also hike their prices, now is a good time to check you’re on the best deal and consider fixing your tariff.
Use Which? Switch, our independent price-comparison site, to compare gas and electricity prices.
There are still some good-value fixed deals out there that don’t charge an exit fee. These offer peace of mind that you’ll be protected from price rises, but should prices go down you would be free to switch to a cheaper deal without paying a penalty. Call Which? Switch on 01992 822867 to find out which fixed deals are cheapest for your home.