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EDF Energy price change announcements 2020

EDF Energy price change announcements 2020

EDF Energy's most recent price change is a drop of about 7% for standard variable tariff customers. The price drop was announced in August 2020 and came into effect on 1 October.

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The price drop was in response to energy regulator Ofgem's energy price cap level reduction from £1,127 to £1,042. This is the maximum price the supplier is allowed to charge customers for average use on its standard variable tariff.

EDF Energy's standard variable tariff customers previously saw a 1% price drop in April 2020, also as a result of the falling price cap. Additionally, those on prepayment meters saw their bills fall to an average of £1,199, again due to Ofgem's price cap drop.

Prior to these reductions, EDF has usually raised its prices, especially over the past couple of years:

  • In August 2018, EDF raised its prices by 6%, around a £70 increase for those on standard variable tariffs
  • In June 2018, EDF raised its standard variable tariff dual fuel rates by 1.4%, which constituted a £16 rise for customers

Do I need to do anything about the EDF price change?

All customers with a standard variable tariff plan from EDF Energy will be impacted by this change (about 40% of its current customer base). If this is you, you don't need to do anything - your prices should drop on 1 October.

It's always a good idea to compare the energy market on a regular basis and ensure you're on the cheapest deal possible. Even though prices have dropped, you can almost always save more than the price cap level by finding a cheaper fixed deal.

You can stay up to date with the latest news from the energy market here and compare energy deals to find the cheapest rate for you.

Alternatively, you can switch energy providers right now to avoid paying more than you need to for your gas and electricity.

If you've never switched energy before, read our step-by-step energy switching guide.

Here's a list of the latest cheap energy deals you can compare and switch to with Uswitch:

Supplier Plan name Tariff type Price
E.ON Fix Online Exclusive v59 Fixed for 12 months £950 Compare now
ScottishPower Super Saver January 2022 B3 Fixed until 31 Jan 2022 £964 Compare now
Bulb Vari-Fair Variable £966 Compare now
Shell Energy Energy March 2022 v6 Fixed until 31 Mar 2022 £967 Compare now
Octopus Energy Uswitch Octopus 12M Fixed Fixed for 12 months £971 Compare now
Avro Energy Simple and USupreme12M Fixed for 12 months £971 Compare now
British Gas Energy Plus Protection Feb 2022v6 Fixed until 28 Feb 2022 £979 Compare now
British Gas Online Fix Feb 2022v6 Fixed until 28 Feb 2022 £979 Compare now
Octopus Energy Octopus Exclusive 12M Fixed Fixed for 12 months £982 Compare now
Pure Planet 100% Green 12m Fixed Jan21 v1 Fixed for 12 months £982 Compare now

Based on average bill sizes for a medium energy user on a dual fuel plan paying by monthly direct debit, and averaged across all regions. This information is updated hourly with energy plans which are available to switch to through Uswitch. To appear in this table, plans must be available in at least 7 of the 14 regions.

If you are on EDF's standard plan, then you should at the very least switch to its cheapest fixed plan or look to switch to a new supplier.

Standard variable rate plans from energy suppliers are often their most expensive tariffs and it is the tariff that most customers are automatically put on when they move into a new home. Many customers never change their tariff and end up facing higher costs than customers who are on fixed rate tariffs.

If you’ve already switched your energy supplier and still want to find ways to save on your bills, you can also follow some of our free tips to save energy at home.

Why did EDF Energy change its prices in 2020?

EDF's price drop announcement in August 2020 followed Ofgem reducing the level of its energy price cap for customers on standard variable tariffs. The price change came into effect on 1 October when the cap level changed.

Which energy suppliers have changed their prices in 2020?

Following the price cap review in August 2020, many energy suppliers were forced to reduce their prices in line with the new cap level.

EDF Energy was the first of the big 6 energy suppliers to announce it would drop its prices, just four days after the announcement of the new cap level.

You can read about previous price changes from the rest of the big six below:

If you’re with any of the above suppliers, you should switch your energy now to help you save on your energy bills.

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