Frequently asked questions
Why is EDF Energy putting up its prices? The following information should help to answer any questions you have about our recent price change.
- Why is EDF Energy putting up its prices?
The company is facing a significant increase in its non-energy costs, with transmission and distribution charges, along with obligatory energy efficiency schemes, both raising sharply. The cost of buying energy has also risen by 4% for next year. These costs are predominantly outside our control.
Raising prices for our customers is one of the hardest decisions we have to make; especially when economic conditions are difficult. But our projected costs have increased significantly since the start of the year. We have done everything we can to absorb these extra costs for as long as possible but we’re sorry to say we’ve now reached the point where we have to change our prices.
- How many of our customers will be affected by this rise?
Around 3 million customer will be affected.
- How much more will customers pay?
For those paying by monthly direct debit, a 10.8% increase in our electricity and gas prices will see standard electricity only cusomter pay £50 more per year, gas only customers pay £72 more a year and dual fuel customers pay around £122 more per year. However these figures are only average , and will differ depending on meter type, region and payment method.
- Overall what will be the cost of an annual duel fuel bill?
On average, an annual dual fuel bill for a customer paying by monthly direct debit will increase to £1,251
On average, an annual standard gas bill for a customer paying by monthly direct debit will increase to £748
On average, an annual standard electricity bill for a customer paying by monthly direct debit will increase to £511
- When did EDF Energy last change their prices?
In 2012, we were the first major supplier to announce a price cut. We cut our gas prices by 5% in February. Our prices for both gas and electricity went up in November 2011. We were the last to raise our prices last year and did so by the lowest amount.
- What if I want to move supplier?
We hope you stay with us but if you decide to leave, tell us by 7 December 2012 and as long as your new supplier contacts us within 15 working days of your notification we’ll continue to apply your existing terms and prices until you transfer.
If we are not contacted by your new supplier within this 15 working day period then you will move to our new Standard (Variable) rate with effect from 7 December 2012. If you have outstanding charges on your account, we may stop your transfer to your new supplier, but we will allow you 30 further working days to settle your balance, so your new supplier can re-apply for your supply.
- Why have environmental costs gone up so much over the last year? How much do they add to the bill?
This year we have faced a significant increase in the cost of meeting our Carbon Emission Reduction target (CERT) and Community Energy Saving Programme (CESP) scheme obligations. These obligations must be met by the end of the year and suppliers have challenging targets for providing ‘hard to reach’ households with energy efficiency measures.
The replacement Energy Company Obligation scheme is due to start from 1st October and we envisage higher costs than DECC’s estimate.In addition we have seen significant increases in the cost of other environmental levies such as supporting the cost of renewable energy sources, and the cost of the government Feed-in-Tariff scheme, which sets the payments to homes with solar panels.
- Are those on standard tariffs now subsidising all your customers lucky enough to be on cheap fixes?
All our products are available to all of our customers, and we heavily and actively promote our cheapest tariffs and payment methods to all our customers, making it easy to benefit from the lowest prices available. The fixed prices we offer come with a commitment from the customer to stay with us for the time of the product contract period, meaning we are able to secure their energy in advance to shield them from variable market prices. A customer’s risk appetite may not always suit a fixed term product.