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12 October 2018

EDF Energy raises electricity prices by 2.7%

http://www.bbc.co.uk/news/business-43736532


EDF Energy is raising its electricity prices by 2.7%, days after British Gas raised prices for 4.1 million of its customers.

EDF's move, which will affect 1.3 million customers, will see electricity prices rise, but gas prices remain unchanged from 7 June.

As a result, typical standard dual-fuel customers will see their bill rise by 1.4%, or £16 a year.

That would bring the typical annual bill for them to £1,158 a year.

A customer who pays by cash or cheque, rather than by direct debit, will see their typical annual bill rise by £28 a year to £1,248.

Béatrice Bigois, EDF Energy managing director of customers, said:

"We know that price rises are not welcome and we have worked to offset rising energy and policy charges by cutting our own costs. "We will be writing to affected customers this month to encourage them to choose a fixed-price tariff or to pay by direct debit to save on their bills."

The company said:

"The price rise reflected the increase in some of the fixed costs associated with supplying electricity".

The price rise comes after EDF raised electricity prices twice last year, putting them up by 8.4% in March and 9% in June.

The latest change has been announced two days after the UK's largest domestic energy supplier, British Gas, said it would raise gas and electricity prices by 5.5%, or £60 a year, for customers on default deals from 29 May.

That price rise was branded as "unjustified" by the government.

Stephen Murray, from price comparison website Moneysupermarket, said:

"Clearly the price rise from British Gas earlier this week has opened the floodgates and we are now officially in price rise season. It is fair to say the forthcoming energy price cap, even though it is still months from being signed off and introduced, is looking like a key factor in this round of price rises. The big six suppliers know they have a short window to adjust prices upwards before the government starts to enforce pricing legislation."

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