EDF Energy to raise prices due to soaring costs

In response to the soaring cost of wholesale energy, higher distribution costs and increased environmental obligations, EDF Energy has announced an increase in its gas and electricity prices effective from Friday 18 January 2008.

Electricity will rise by 7.9% and gas by 12.9%. The bill for a typical dual fuel customer will rise by an average of just over £1.92 per week.

The price increase is driven by three factors. First, the wholesale price of energy has doubled over the last year. Second, the distribution costs of transporting and metering energy have also risen. Finally, there have been significant cost increases from meeting our environmental obligations including a major expansion of the Government’s energy efficiency scheme which we fully support.

55,000 of EDF Energy’s ‘most in need’ customers continue to benefit from a 15% discount below our standard tariff through our Energy Assist tariff. EDF Energy’s most vulnerable customers – including those on prepayment meters - are making a total annual saving of up to £159 on dual fuel from the company’s standard rate.

EDF Energy’s Fixed Price 2010 tariff enables customers to fix their prices until 31 July 2010. This offers protection and security in a volatile market. EDF Energy is alone in the industry in making this available to prepayment customers. There is no cancellation fee or penalty should the customer want to come off this product at a later date.

Eva Eisenschimmel, EDF Energy Chief Operating Officer Customers Branch, said: “We regret any decision to raise our prices. Despite soaring wholesale energy prices, higher distribution costs and increased environmental obligations, we have been able to substantially limit the impact on our customers. We will continue to work very hard to mitigate the effect of rising costs for our customers through energy efficiency advice and our range of products including Fixed Price 2010 and Read Reduce Reward.

“We will also do what we can to mitigate the effects on our ‘most in need’ customers through our Energy Assist tariff. For all our customers, you can be assured that we will continue to provide competitive prices, deliver excellent service and first class choice at all times.”

Any customer wishing to find out more about how they can save through energy measures should visit edfenergy.com.