EDF Energy to raise gas prices by 15.4 per cent
EDF Energy is raising prices by more than 15 per cent, the last of the major suppliers to put up gas and electricity tariffs for the coming winter months.
The rise in gas prices will take effect from November 10. Electricity tariffs will also rise by 4.5 per cent to reflect wholesale energy, network and other costs.
The increase will affect 3.2m customers, who face an average rise of £183.
The average dual-fuel bill for customers paying by direct debit would have been £982 per annum for 2010 to 2011, but the increase will mean an equivalent bill of £1,165 per year.
Vincent de Rivaz, chief executive of EDF Energy, said the company had been able to delay the decision longer than its rivals because of its sourcing of nuclear energy.
But he said that EDF now, “reluctantly”, had to pass on some of these higher costs to consumers.
Price hike for the “big six”
The UK’s other five main energy companies announced double-digit price rises in August.
Scottish Power led the way with a 19 per cent rise in gas prices and 10 per cent rise in electricity from August 1.
The remaining four companies – E.ON, Npower, British Gas and Scottish and Southern Energy – followed suit.
The companies have blamed a 30 per cent rise in wholesale costs since last winter, but regulator Ofgem is investigating whether it is justified and fair to consumers.
Ofgem began looking into energy prices last year and in August, brought in the forensic accountants BDO to investigate the “big six” energy companies.
Responding to EDF’s announcement, an Ofgem spokesperson said: “We want to break the strangle hold the big six have over the electricity market by making them auction up to 20 per cent of their power generation to make it easier for existing smaller suppliers and more attractive for new competitors to enter the market.
“Our reforms seek to cut away the complexity facing consumers with over 400 individual tariffs available.”
Scottish Power
Gas price rise: 19 per cent
Electricity prise rise: 10 per cent
Effective from: August 1
British Gas
Gas price rise: 18 per cent
Electricity price rise: 16 per cent
Effective from: August 18
Scottish and Southern Energy
Gas price rise: 18 per cent
Electricity price rise: 11 per cent
Effective from: September 14
E.ON
Gas price rise: 18.1 per cent
Electricity price rise: 11.4 per cent
Effective from: September 13
Npower
Gas price rise: 15.7 per cent
Electricity price rise: 7.2 per cent
Effective from: October 1
EDF Energy
Gas price rise: 15.4 per cent
Electricity price rise: 4.5 per cent
Effective from: November 10