You are here: Home - Household Bills - News -

EDF castigated for ‘half-hearted’ gas price cut

0
Written by:
01/05/2007

Energy company EDF was heavily criticised yesterday as it announced its price cut for gas charges, but did not make any reduction in the cost of its electricity.

The announcement was greeted with scepticism, with many describing it as “half-hearted” and “cynical” inasmuch as EDF was doing the bare minimum to stave off criticism that it was ripping off its customers.

EDF, which is French-owned, supplies gas and electricity across London, the South East and the East of England. It reckoned that the price cut would reduce the cost of dual fuel (gas and electricity) by £63 a year to £907.

Energywatch, the independent watchdog, was not impressed with the move. “EDF Energy’s price cut is just about the least it needed to do in response to moves from other suppliers,” said Energywatch director of campaigns, Adam Scorer.

“It will edge EDF Energy to the better value end of the pack, but this is a further sign that this is no price war for consumers – just a jockeying for position by companies looking to hang on to what they’ve got.”

EDF customer Brian Baker of London was also unimpressed with his energy supplier. “It does the bare minimum and no more,” he said. “It only cut the prices because its competitors did and it felt it had no choice.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
The rich get richer as fortunes flower in boom-time UK

The UK’s rich are getting significantly richer as the fortunes of the nation’s wealthiest 1,000 people grew by 20% in the...

Close