EDF’s modest price rise comes with "strings attached"

EDF Energy’s modest – in comparison – domestic price rise could come with a caveat based on the future of the ECO scheme for insulating British homes. Today the supplier […]

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By Vicky Ellis

EDF Energy’s modest – in comparison – domestic price rise could come with a caveat based on the future of the ECO scheme for insulating British homes.

Today the supplier introduced a much lower rise than other Big Six energy companies of 3.9% from 3 January 2014.

However it appears this may be subject to change. A spokesperson told ELN if the Government makes a “bigger change” to ECO and the cost for suppliers goes up it will “review” its prices.

Another tariff rise is not necessarily set in stone as the spokesperson added the firm doesn’t know what will happen to the cost of ECO but “we’re anticipating it… and so we might or might not put them up”.

Consumer group said the Adam Scorer, Director of Consumer Futures said the rise is smaller “because it comes with strings attached”.

He  said: “It puts pressure on the Government to shift the burden of some policy costs from the bill to taxation. The Government… must not lose sight that these are vital schemes for reducing households bills over the longer term.”

Responding to the initial price rise news, Energy Secretary Ed Davey said: “Any price rise is disappointing but I’m encouraged that EDF have kept their price rise much closer to inflation than some of their competitors.”