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Profit fall for EDF’s UK branch following investment drive

The EDF Group, which owns EDF Energy, has announced a fall in profits for 2011.

EDF EnergyThe EDF Group has announced a £801 million operating profit for its UK arm, a 14% fall in comparison to 2011.

However, despite the fall in profits the supplier has committed £1.3 billion investment in the UK  for energy generation.

The news follows the publication of complaints date for the ‘big six’ suppliers which found EDF Energy to be the most complained about supplier.

EDF came fourth in the 2012 uSwitch Customer Satisfaction Survey.

Earnings a ‘fair return’

Commenting on the UK results, EDF Energy chief executive Vincent de Rivaz, said: “Our financial performance last year enabled us to make significant investments in both our existing power stations and our plans for new nuclear stations in the UK, which will help keep the lights on in future with reliable, secure and low carbon energy.

“Within the context of the huge investment we have made in our business, these earnings represent a fair return.

“We are committed to offering our residential customers fair value and last year offered the lowest dual fuel prices of any major suppliers for 46 out of 52 weeks.

“We also pledged to ensure our most vulnerable customers would benefit from our cheapest prices and launched our Blue +Price Promise tariff which offered consumers fixed prices, no exit fees and an industry first price promise.”