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EDF Energy unveils price hike

15/01/2008

EDF Energy has announced above-inflation price rises of up to 12.9 per cent due to "soaring wholesale energy prices" and other increasing costs.

The energy retailer has revealed it will charge customers an additional 7.9 per cent for electricity and the price of gas will rise by 12.9 per cent.

This will increase the typical bill for a dual-fuel customer by an average of almost £2 per week, EDF Energy said.

Today's announcement makes the energy company the second of the major players to introduce a price hike, following the example of Npower - the UK's fourth-largest supplier - who announced a 12.7 per cent rise in electricity prices and a 17.2 per cent increase for gas customers ten days ago.

Eva Eisenschimmel, EDF Energy's chief operating officer, said the company's directors "regret any decision to raise our prices" but blamed a number of factors, including higher all-round costs.

"Despite soaring wholesale energy prices, higher distribution costs and increased environmental obligations, we have been able to substantially limit the impact on our customers," Ms Eisenschimmel said.

"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.

"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."

The move had been predicted by Npower earlier this month when the company made its announcement, saying the costs incurred by the industry would soon begin to affect customers' bills.