You are here: Home - Household Bills - News -

EDF loses 200,000 customers as earnings tumble

0
Written by: Danielle Levy
15/02/2019
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.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

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

Read previous post:
RBS delivers Brexit warning after doubling profits

In spite of a strong 2018 which saw taxpayer-backed Royal Bank of Scotland (RBS) double its profits to £1.6bn, it...

Close