ANOTHER EDF PRICE INCREASE IN 2018 – BILLS TO INCREASE BY A FURTHER £70 FROM AUGUST 31st
From 31 August, EDF's dual fuel customers on a Standard Variable Tariff (SVT) will see their annual bills rise again with another £70*, or a whopping 6% - on top of the £28 from the price hike that came into effect in June.
EDF has announced a price rise of 6% - After already increasing prices by 2.7% this June
- Average UK customer will pay £70* more per year from 31st August
- Comparison website energyhelpline questions the double blow of hikes, and urges customers to switch & save
Mark Todd, co-founder of energyhelpline:
"Yet another price hike from a major supplier in 2018 - it's now practically a cascade of ever-increasing prices. This second price rise is a new blow for EDF customers. From 31 August, dual fuel customers on a Standard Variable Tariff (SVT) will see their annual bills rise again with another £70*, or a whopping 6% - on top of the £28 from the price hike that came into effect in June.”
“Should EDF’s standard variable tariff customers switch from this tariff to the lowest available on the market as of today, they would save on average £421*.
"This new rise is particularly cruel following the hottest summer days yet. The cost of sticking to a big-name energy supplier is quickly outstripping the feeling of safety it gives customers.”
"It is another signal that the current energy market can be volatile. With over 80 active suppliers in the UK*, there is more competition out there for big suppliers than ever. Customers are not going to put up with the hikes for much longer, and with the increasingly popularity of switching quickly and easily online, they don't have to. The customers affected have until the 31st of August to switch before the price rise sets in - but the sooner the better.”
Big Six price hikes announced:
- April 19th – E.on: up to 4.2% increase, average annual bill to increase by up to £50.
- May 29th – British Gas: 5.5% increase, average annual bill to increase by £60.
- June 1st – Scottish Power: 5.5% increase, average annual bill to increase by £63.
- June 7th – EDF: up to 2.7% increase, average annual bill to increase by up to £28.
- June 17th – Npower: 5.3% increase, average annual bill to increase by £64.
- July 11th – SSE: 6.7% increase, average annual bill to increase by £76.
- August 16th – E.on: up to 4.8% increase, average annual bill to increase by up to £55.
- August 31st – EDF: up to 6% increase, average bill to increase by up to £70.
*Price increase amounts and average usage calculated based on average usage, and against an average bill of £1,194 (Average Big 6 energy suppliers’ Monthly D/D payment method standard tariffs) after price rises enacted. Calculations for average usage dual fuel household paying by monthly D/D. Average usage defined by OFGEM is 12,000 kWh pa gas and 3,100 kWh pa electricity. Includes publicly available tariffs available in at least 12 of the 14 regions of UK. Excludes exclusive, collective and staff tariffs not generally available.
Cheapest currently available tariff at time of writing is Powershop's "Top Shopper June 2018 Issue 1" at £807 vs EDF’s new SVT as of 31 August, at £1,228, which is a difference of £421. Based on average usage, on the Ofgem figures cited above.