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EDF Energy announces 8.4% electricity price rise

EDF Energy announces 8.4% electricity price rise

Following SSE, British Gas and E.ON freezing prices for winter, "big six" energy supplier EDF Energy will lower its standard gas rates by 5.2%, ahead of an 8.4% electricity rise in March.

This totals an overall increase in may of 1.2% to the annual dual-fuel energy bill for those on EDF's standard variable tariff, making it the most expensive variable tariff of the big six.

The price rise particularly affects those who do not have gas supplied to their home and are on electricity only, as the respite provided by the 5.2% gas cut in time for winter, will not be received by these customers.

Claire Osborne, energy expert, says:

“It’s good news that [some] customers are getting some respite going into the winter months, but it’s disappointing to see EDF already committing to price rises in March that will make them the most expensive variable tariff of the big six.

Increasing the price of an already high energy bill could leave almost two million EDF standard variable customers buckling under the pressure, and it’s a bitter pill to swallow even if it is after the winter months – consumers still need to keep the lights on."

More price rises likely?

The announcements by large suppliers to freeze prices over winter, carries with it the fear of price rises around April 2017 when the freezes end.

To protect themselves against any of these potential price rises, customers can switch to a fixed plan and be secure that their rates won't change for the set duration (usually 12 months, however longer fixes are available of 18+ months).

Don't wait to switch — the cheapest fixed deals have been disappearing from the market as wholesale prices put pressure on suppliers. By the end of November, five out of the big six energy suppliers had increased the price of their most competitive fixed rate tariffs by an average of £129 since September.

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