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EDF set to raise energy prices

By Shane Gladstone

EDF Energy has announced plans to hike its rates for gas and electricity.

Customers will see electricity bills rise by an average 7.5 per cent and gas by an average 6.5 per cent on March 2.

The move calls time on the gas and electricity provider's winter price freeze for its 5.5 million customers in Britain.

EDF is the last of the big six suppliers to raise its prices.

The firm 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.

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.

EDF had already increased electricity prices in October, although it is its first standard gas hike for residential customers since 2009.

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."

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.