EDF price hike

Commenting on EDF increasing the price of its standard tariff (22 per cent for gas and 17 per cent for electricity), Scott Byrom, utilities manager at moneysupermarket.com, said: "EDF is the first to throw down the gauntlet and increase prices with immediate effect and it is only a matter of time before other providers follow suit. This marks the second price increase from EDF this year - a total rise of 34.9 per cent for gas and electricity by 24.9 per cent since January 2008.

"Bill payers should now brace themselves for a summer of price hikes, but with 86 per cent of people saying they couldn't afford a 40 per cent increase in energy bills, this could be a hard pill to swallow.

"EDF customers on their standard tariff have faced a £400 increase from this time last year. All customers, especially those languishing on a standard tariff, should be proactive to find the best possible deal.

"One option is to apply for an online tariff and take advantage of the market leading prices on offer. However, these products are variable and are at risk to further price hikes.

"For those less willing to take a gamble, a fixed tariff is by far the best option - moving onto Scottish Power's Fixed Price 2009 from EDF's standard option would save bill payers £330 for example. However, with prices creeping up, I foresee providers pulling attractive fixed tariffs from the market, so Brits need to act now.

"Naturally, some consumers will be extremely concerned about their ability to pay their energy bills and I would advise them to seek help and more information about social tariffs available to them. Today's move from Ofgem to ensure social tariffs are in line with the supplier's cheapest deal is a step in the right direction. I would like to see this implemented sooner rather than later so fuel poor customers can benefit from these recommendations at the earliest opportunity."