You are here: Home - Household Bills - News -

EDF loses 200,000 customers as earnings tumble

Written by: Danielle Levy
EDF energy saw 200,000 customers switch to different providers in what proved to be a challenging year for the business.

The energy provider saw earnings fall by 15.4% year-on-year over the 12 months to 31 December to €783m (£607.9m), in spite of raising prices on two occasions during the year.

It is set to raise prices by 10% from April for those on standard variable rate tariffs, after energy regulator Ofgem increased its price cap.

EDF attributed the earnings drop to a downturn in nuclear power generation and lower realised prices for nuclear power.

Over the 12-month period, EDF Energy said it had lost 200,000 residential electricity accounts, falling to 3m at the end of the year and 1.9m gas customers.

On the plus side, sales increased by 3.9% over the period to €9 billion.

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.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

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...

Money Tips of the Week