EDF Energy announces second price rise this year

Big Six supplier EDF Energy is increasing its electricity prices for the second time this year. Its standard variable electricity tariff will rise by 9% – adding £49 to the […]

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By Priyanka Shrestha

Big Six supplier EDF Energy is increasing its electricity prices for the second time this year.

Its standard variable electricity tariff will rise by 9% – adding £49 to the bill – and its gas tariff will increase by 5.5%, adding £29.

Dual fuel customers will see their prices rise by 7.2%, paying an extra £78 and taking the total average energy bill to £1,160 a year.

The price increases will come into effect from June 21st.

Around 55% of EDF Energy customers who are on fixed tariffs or have prepayment meters will not be affected.

The supplier previously increased electricity prices by 8.4% from March, although it cut gas prices in January.

The Big Six company said it has faced “a range of rising costs for some time”, in both wholesale and non-wholesale energy costs and obligations.

It is also launching a new three-year fixed deal, at £1,155 until April 2020, with a year’s free boiler insurance worth £130.

Vulnerable dual fuel customers will receive a one-off automatic rebate of £100 and be encouraged to move to a fixed tariff in the next year.

CEO Vincent de Rivaz said: “I know that price rises are never welcome but the industry is facing significant cost increases. To be a sustainable and responsible business, we aim to make a fair margin in supplying customers.

“This fair margin allows us to invest for the long term, in particular in good service, innovation and smart metering. It also allows us to help more customers choose the right tariff for them. We have cut all the costs under our control without compromising our customer service.”