EDF announces price rise
The price rise, which will come into force from 1st October 2010, will see an increase of 2.6% or an average of £11 to standard electricity tariffs in 11 out of 14 energy regions - meaning 37% of EDF's electricity customers will be affected.
The average EDF Energy electricity bill will go up from £429 to £438 a year and the average dual fuel bill will increase from £1,159 to £1,167 as a result.
EDF Energy has blamed the price rise on an increase in distribution and transmission costs.
Thomas Lyon, energy expert at uSwitch commented on the news: "No matter how this is dressed, this is a price rise and will be worrying news to consumers. The company will be writing to those households affected, but I would urge EDF Energy customers to be vigilant and would remind them that other suppliers may well be offering better value in their area.
"Energy price rises are generally driven by a consistent upward trend in wholesale costs, so today's move will catch people on the hop. But it should not be seen as a green light for price increases across the board. EDF Energy is using today's move to adjust its prices in line with Ofgem's cost reflectivity rules - other suppliers have already made similar adjustments so we should not be expecting them all to follow suit.
"What is clear from today's announcement though is that there is no place for complacency - even if wholesale prices remain relatively low other costs such as transmission and environmental levies can still go up. Over the next ten years we expect these to play a growing role in pushing up the cost of our household energy bills."
Latest utilities stories
- Over 4 in 10 households missing out on energy efficiency savings Cash-strapped consumers are losing out on almost £6bn because they underestimate the value of being energy-efficient.
- Caroline Lucas backs the End the Big Six Energy Fix campaign Caroline Lucas and 100 other public figures have drawn up a list of suggestions to improve the energy industry.
- Further cuts to solar subsidies as scheme is over budget A further cut to feed-in tariffs has been proposed by the Department for Energy and Climate Change as the scheme has gone over budget.
