EDF Energy finally shows its hand, but only reveals loose change

EDF Energy has finally caved in to pressure and announced a price cut today.

However, the move is half hearted and more about strategic positioning than giving all its customers a fair deal, says uSwitch.com, the independent online comparison and switching service.

The energy giant is cutting its gas prices by 10.2% with effect from 15 June 2007 - 46 days time - but is leaving its electricity customers still dangling after declaring that they will see no reduction. Its excuse for this is that it had the cheapest electricity price at the beginning of 2007 and, despite other suppliers’ moves, it will remain second cheapest for electricity without making a cut.

Ann Robinson, Consumer Policy Director at uSwitch.com, says: “EDF Energy was under a lot of pressure to cut its prices and this duress shows in the half hearted attempt it has made today. It will now be second cheapest supplier for dual fuel, but it has only shunted up one place from most expensive to second most expensive for gas, leaving customers asking why it couldn’t do more.

“Today’s move seems more about appeasing the regulators, making a peace offering to customers and buying itself some time and space. While second place for dual fuel is fairly respectable, you have to dig a little deeper to see how it is treating its gas-only customers. This double-digit decrease is leaving those customers on one of the least competitive gas prices on the market.

“While EDF Energy may be happy to settle for second place, its customers should not be happy to settle for second best. Now that EDF Energy has finally shown its hand and only revealed loose change, customers should take this as the green light to continue shopping around for a better deal.”