EDF Energy has announced a second, bigger price rise in 2018, affecting around 40% of its gas and electricity customers.
EDF customers on the energy firm’s standard variable tariff will see their bills increase by 6% on average from 31 August. This will add £70 per year to customers’ bills on average, following a £16 increase in June.
The price rise makes EDF’s standard variable tariff the second most expensive of all the Big Six energy firms.
Keep reading to find out which firm’s the most expensive, and how you can beat energy price rises.
Fed up of rising energy prices? Compare gas and electricity prices with Which? Switch to find a cheaper deal.
I’m an EDF customer – am I affected?
This price rise applies to customers on EDF’s standard variable tariff (called Standard Variable). Gas prices will increase 6% and electricity prices by 6.1%.
Dual fuel customers will pay £1,228 per year, on average, after the price increase.
Npower’s standard variable tariff will still be the priciest out of the Big Six – though just £2 more expensive per year.
EDF Energy states that 60% of its customers won’t be affected by this increase. If you have a fixed price deal with EDF, the price you pay for the energy you use won’t change during the period of your tariff.
Prepayment meter customers, and those on EDF’s safeguard tariff, won’t be affected either.
Find out more about variable and fixed energy tariffs.
How much can I save by switching?
The price rise, which comes into effect from 31 August, will make EDF the second most expensive out of the Big Six companies’ variable tariffs. EDF’s standard tariff is currently the cheapest of the Big Six.
Variable tariffs with the Big Six energy firms aren’t cheap. Switch to the cheapest deal currently available across England, Scotland and Wales and you could save £371 per year on average compared with EDF’s new higher price (if you’re a medium energy user*).
Which? energy experts reveal how to get the best energy deal.
Why is EDF Energy raising prices again?
EDF last increased its electricity prices in June by 1.4% (or £16 on average per year).
It says that since the start of the year wholesale energy prices have increased by 18%, and they’ve increased by 13% since its April increase.
Wholesale prices have increased owing to the following, EDF says:
- Cold weather during the ‘Beast from the East’
- Gas stocks reducing over the winter
- Global oil markets contributing to higher UK wholesale prices
EDF Energy managing director of customers, Beatrice Bigois, said: ‘We had hoped that our limited changes announced in April would be enough.
‘However, energy costs have continued to rise significantly and despite our best efforts to absorb some of these by reducing the costs within our control – sadly we can no longer sustain this.’
Alex Neill, Which? Managing Director of Home Products and Services, said: ‘This substantial price hike will be a bitter blow for EDF Energy customers who have already been hit with an increase in their electricity bills in recent weeks.
‘The millions of people stuck on standard variable tariffs should switch, as the Big Six are rarely the cheapest and you could potentially save almost £400 a year.’
Find out how to switch energy supplier.
Which? energy pricing research
*Prices are based on a dual-fuel tariff available in all regions in England, Scotland and Wales for an average user (using Ofgem averages of 3,100kWh of electricity and 12,000kWh of gas per year), paying by monthly direct debit, with paperless bills. Data is from Energylinx. Prices given are averages across regions, are rounded to the nearest whole pound and correct on 5 July 2018.