Fifth blow to energy consumers as EDF hikes prices by 10.8%
According to Confused.com, this will affect around 3m customers across the country, and in real terms will mean a £2.35 increase to a typical standard variable dual fuel energy bill.
The price rise adds £122 to annual fuel bills for dual fuel customers paying by monthly direct debit, bringing an average bill to £1,251 a year.
Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, said: “Millions of people face a winter of misery as EDF clobber households with above-inflation price rises at the very time they can least afford it.
“People will not understand why EDF are hiking up their bills by so much when they made nearly £1.6 billion in profits last year.
“The time has come for a complete overhaul of our energy market. We need a One Nation government to break the dominance of the energy giants, protect vulnerable customers from being ripped off and create a tough new energy regulator with the power to force energy companies to pass on savings to consumers.”
EDF is the 5th supplier to announce a hike in energy prices following SSE’s announcement in August that they would be rising gas and electricity prices by 9% with effect from Monday (15 October 2012).
Kate Rose, head of energy at Confused.com, said: “If consumers haven’t already we cannot urge them enough to switch now, to make sure they are on the cheapest tariff for them, and look at the fixed price tariffs available which could protect them from future price rises.”
“We are not surprised by these latest price hikes, however we are encouraged to see that EDF are looking at ways to support the elderly and vulnerable, many of whom are already worried about how they will heat their homes this winter.”