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EDF follows suit in raising energy prices

-Confused.com comments on EDF energy price hikes-

  • Gas and electricity variable fuel prices are to increase by an average of 3.9%, effective from 03 January 2014*
  • This increase will add £49 to the average standard variable bill for customers affected, seeing average annual standard variable dual fuel bill rise to £1,300**
  • Lowest price rise to be announced so far by ‘Big Six’ suppliers in this round of hikes

Today (12 November 2013) energy supplier EDF has announced an average price rise of 3.9% per cent in electricity and domestic gas dual fuel prices, effective from 03 January 2013.*

These price hikes will affect around 3.7m households across the UK and as a result, a monthly Direct Debit customer will experience an average annual price rise of £49, bringing the annual standard variable fuel bill to £1,300**.
EDF is the fifth of the ‘Big 6’ suppliers to announce gas and electricity price rises. It follows ScottishPower, which announced price rises of 8.6% on 24 October 2013.

EDF’s price rise is lower than those of its recent competitors, in particular that of npower, which announced hikes of a staggering 10.4% last month. 

EDF say they are only passing on a proportion of their rising costs, including those relating to the government’s social and environmental schemes in order to limit price rises for customers.

However these are not the only costs that are increasing. In the energy company's statement EDF also blames the rise on transmission and distribution costs, smart metering, its renewable obligations, warm home discounts and feed-in tariffs.

Kate Rose, Head of Energy says:

"As a result of EDF delaying their price rise until after the announcement that the government are to review 'green taxes', they have been able to keep the rise much smaller than the others.  However, this will still be seen as unwelcome news to many households as there is a lack of certainty whether there will be further price rises in the following months.
 
“The government review into ‘green taxes’ is due to be completed in the next month. We would strongly urge the government to review the ‘green taxes’ as soon as possible to provide reassurance to us all.

"We also call on all suppliers to confirm that should social and green taxes be reduced these savings, penny for penny, will be passed onto customers regardless of their tariff.
 
“We advise those customers who have not switched to fixed tariffs to use a comparison site to get the best deal. Comparison sites such as Confused.com are free to use and display all available tariffs, making it quick and easy to switch to a new tariff or supplier.”

- ENDS -

Media information
Confused.com press office            laura.buchan@confused.com 
                                                 02920 434225 / 07800 889608  
                                                 sarah.wenham@confused.com
                                                 07788310289
                                               
Notes to Editors:

* http://newsroom.edfenergy.com/News-Releases/EDF-Energy-holds-back-full-impact-of-rising-charges-for-customers-cd.aspx

** This figure is based on a national average of regional prices for customers with typical consumption and paying by monthly direct debit. Typical consumption as defined by Ofgem is 3,300 kWh electricity and16,500 kWh gas consumption and 5,000 kWh of electricity for Economy 7 meters. Include info on changing consumption rates.

About Confused.com:

Confused.com was the UK's first price comparison site for car insurance. Confused.com is one of the UK’s biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home contents insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance policies. 

Confused.com is not a supplier, insurance company or broker. It provides an objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’s service is based on the most up-to-date information provided by UK suppliers and industry regulators.

Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.



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