Household Bills
Too little, too late; EDF last ‘Big Six’ supplier to reduce gas prices
As Your Money predicted in yesterday’s story about SSE’s price cut, EDF Energy has joined the other members of the ‘Big Six’ in finally reducing customers’ gas costs.
As of Feburary 11th, EDF customers paying by monthly direct debit will receive a 1.3 per cent reduction in their energy bills, equating to a £9 decrease. This is the smallest reduction to be offered yet by a Big Six supplier, and falls significantly short of the 20 per cent fall in wholesale gas costs evidenced in 2014; however, EDF remains the second cheapest of the six suppliers for standard customers.
The updated table below outlines the varying reductions offered, and when these discounts come into effect.
The move provoked hostile reaction from numerous commentators. “If you thought the price cuts made by the other Big Six energy firms were meagre, EDF has just beaten them all,” said Mark Todd, director oenergyhelpline.com. “It’s a price cut so small you’d probably need a microscope to see it. Consumers will struggle to notice it in their next energy bills.”
Stephen Murray, of MoneySuperMarket, said: ““It’s been frustrating to see all but one of the big six choose to delay a cut in prices. They have all ensured that they gain a few extra week at higher prices when energy consumption by consumers remains high in the colder weather.”
