EDF energy price rise

More doom and gloom for consumers as today we hear that EDF Energy has become the last of the big six suppliers to rise its prices from next month. Standard tariffs for electricity bills will rise by an average 7.5%, while gas bills will increase by an average of 6.5%. An average annual standard dual fuel bill paid by direct debit will rise by £68 to £1,051, or an extra £1.31 a week, after the March 2 hike.

(Sitting in the dark and washing in cold water may save a few pennies?)

It should be noted however that EDF, which has 5.5 million customers in the UK, held its prices through the coldest December on record as part of its winter price freeze and claimed its customers benefited from some of the lowest prices in the market when it mattered most.

However, Audrey Gallacher, head of energy at watchdog Consumer Focus, said: "EDF Energy's customers will be hugely disappointed that the supplier has chosen to up its prices as soon as possible after its price freeze ends. Consumers will be further annoyed that this rise is even higher than that of most other suppliers, particularly given that the firm already increased electricity prices in October.

"This price rise will, however, sadly come as no shock as EDF Energy is following where other firms have led. This adds yet more fuel to the fire to the need for Ofgem's energy market review to clarify whether customers are paying a fair price for their energy."

EDF said its average customer uses more than half of their annual supply of gas between November and the end of February, so it has saved them money by holding prices down.

Martin Lawrence, managing director of energy sourcing and customer supply at EDF Energy, said: "Although we regret the need to raise prices, we held out for longer than all of the other major suppliers and we hope our winter price freeze guarantee shows that not all energy companies are the same.

"We have delayed this increase until the end of a particularly difficult winter, which included the coldest December in 100 years."