Domino effect as EDF Energy becomes second big six energy supplier to raise prices to new cap level
Gas and electricity bills will rise by 10% for 1.3 million EDF Energy customers on its standard variable tariff from 1 April
The £118 hike, up to the new price cap level, means EDF Energy’s standard plan will cost £1,254 on average – adding £160 million to bills across the country
Prepayment meter customers will also face a £106 (9%) price rise
Uswitch urges households to reject so-called ‘fair price rises’ and switch to a cheap fixed plan.
Rik Smith, energy expert at Uswitch.com, said: “As soon as Ofgem increased the price cap level it became almost inevitable that most customers on standard deals would see their bills rise right up to the cap.
“EDF Energy are the second of the Big Six suppliers to increase their prices, and we wouldn’t be surprised to see a domino effect with other energy companies following suit.
“EDF Energy customers will see their bills rocket by £118 a year on average from 1 April, and their standard tariff will be £286 more expensive than the cheapest deal available today.
“But some households on standard tariffs will be hit harder than the average if their supplier prices up to the cap, which could push their bills to the edge of affordability. People who are already struggling with their bills are the ones who will suffer most if they are conned by the idea that the price cap represents a ‘fair’ deal.
“There are hundreds of pounds to be saved by switching to a good value fixed deal. In just a few minutes consumers can beat the price rises and avoid confusing price changes every six months.”
FOR MORE INFORMATION
Tim Dunford
Phone: 020 3872 5612
Mobile: 07785 552666
Email: tim.dunford@uswitch.com
Twitter: @uswitchPR
Notes to editors
Source: Uswitch.com
Source: Ofgem - number of non-price protected domestic customer accounts, July 2018
EDF had 1,362,940 customers as of July 2018 x £118 = £160,826,920
Cheapest deal as of 11 February 2019 is £968. £1,254 - £968 = £286
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