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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 6% for standard variable tariff customers. Announced in August 2019, this came into effect from 1 October 2019.

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This price drop is a response to energy regulator Ofgem's energy price cap level reduction from £1,254 to £1,179. Additionally, those on prepayment meters saw their bills fall to an average of £1,217, again due to Ofgem's price cap drop.

Though this is a reduction, EDF has usually raised its prices, especially over the past 12 months:

  • 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 were 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 have dropped as of 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
Green Network Energy GNE Snow Surprise V2 Fixed for 12 months £873 Compare now
Tonik Energy Go Green Exclusive v3 Fixed for 12 months £880 Compare now
So Energy So Alder - Green Fixed for 12 months £881 Compare now
Octopus Energy uSwitch Octopus 12M Fixed Fixed for 12 months £883 Compare now
npower Select npower Select uSwitch Exclusive v35 Fixed for 12 months £883 Compare now
British Gas Energy Plus Protection Feb 2021v3 Fixed until 28 Feb 2021 £884 Compare now
Avro Energy Simple and uSuperFlow Fixed for 12 months £886 Compare now
E.ON Fix Online Exclusive v23 Fixed for 12 months £888 Compare now
ESB Energy Brighter Future 12 Digital v8 Fixed for 12 months £890 Compare now
EDF Energy Simply Online May21v8 Fixed until 31 May 2021 £891 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 2019?

EDF's price drop announcement in August 2019 followed Ofgem reducing the level of its energy price cap for customers on standard variable tariffs.

When EDF originally raised its prices for SVT and prepayment customers this was in line with the increased Ofgem price cap level, but this was caused in turn by rising wholesale and distribution costs on a global scale. For instance, the Beast from the East storms of 2018 had a major impact on the amount of energy needed across Europe, which had a knock-on effect for energy supplier outgoings.

Which energy suppliers have raised their prices in 2020?

There have been no widespread price changes so far in 2020, but this is likely to change when the energy price cap is reviewed in February.

Previously, E.ON was the first of the big six energy suppliers to raise its prices to the new energy price cap rate announced in February 2019, but EDF soon followed.

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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