EDF statement on changes to its prices
EDF is today confirming that its prices for customers on standard variable tariffs, which is a regulated tariff with a cap that is set by Ofgem, will be increasing from 1st October.
This comes after Ofgem confirmed that energy costs have risen by more than 50% over the last six months with gas prices hitting a record high.
Customers on EDF’s standard variable tariff paying by direct debit will see their dual-fuel bill increase by 12% to £1,277. Customers on standard variable tariffs can switch to an EDF fixed tariff - in the last year, EDF customers saved £12.5m by switching from a standard variable tariff to an EDF fixed tariff.
In addition, EDF won’t charge its customers exit fees if they move to another of its energy-only tariffs, meaning customers who fix now can switch later if they find another EDF tariff that could save them more money.
The recent wholesale price increases further underline the urgency of helping financially vulnerable customers improve the energy efficiency of their homes and in turn, reduce their bills and carbon emissions. This is something EDF is actively working on via the ECO scheme, having already delivered £244million in lifetime bill savings through measures installed in the last three years.
EDF has also published detailed guidance for its customers on further ways they can lower their bills, such as using EDF’s exclusive ‘Energy Hub’ service, available for smart meter customers (credit and PAYG), which a third of customers agree has helped them reduce their energy use.
Philippe Commaret, Managing Director of Customers at EDF, said: “We know a price rise is never welcome, especially in tough times. In 2020, prices for our standard variable customers fell by an average of £100 a year, and we’ll cut prices again as soon as we’re able.
“As Ofgem has explained, it is global gas prices that have caused the unprecedented increase in wholesale energy costs and as a sustainable, long-term business we must reflect the costs we face.
“We will be directing financial assistance to those most in need through our £1.9m support fund, helping customers reduce their bills, manage their debt and even helping with costs for things like more energy efficient white goods.
“Customers on tariffs that are due to change in October will be written to, reminding them to check that they are on the best tariff for them.”
Notes to Editors:
- Philippe Commaret, Managing Director of Customers at EDF, has written a blog for Politics Home which explains why global energy costs are increasing, what that means for customers and, crucially, what the UK must do in order to protect homeowners from similar increases in the future – which you can read here.
For more information contact:
EDF Energy Media Team
24-hour press line: +44 (0)1452 652233
EDF is helping Britain achieve Net Zero by leading the transition to a cleaner, low emission electric future and tackling climate change. It is the UK’s largest producer of low-carbon electricity, meeting around one-fifth of the country’s demand and supplying millions of customers with electricity and gas.
It generates low carbon electricity from eight nuclear power stations, more than thirty onshore wind farms and two offshore wind farms, and operates one of Britain’s biggest battery storage units, one gas and one coal power station, EV charge-points, and combined heat and power plants.
EDF is leading the UK's nuclear renaissance with the construction of a new nuclear power station at Hinkley Point C, and plans for new power stations at Sizewell C in Suffolk and Bradwell B in Essex. Hinkley Point C will provide low carbon electricity to meet 7% of UK demand. The project is already making a positive impact on the local and national economy as well as boosting skills and education.
EDF also invests in a range of low carbon technologies including renewables, solar and battery storage. The company’s largest offshore wind farm is currently being built in Scotland and the 450 MW Neart na Gaoithe project will be ready in 2023. It is applying research and development expertise to improve the performance of existing generation and developing the potential of new technologies.
EDF is helping its customers, both in business and at home, take their first steps to sustainably powering their lives. Whether it is buying an electric car, generating and storing electricity or selling energy back to the grid. EDF is one of the largest suppliers to British business and a leading supplier of innovative energy solutions that are helping businesses become more energy independent. In addition, the company’s energy services business, Imtech, is one of the largest technical service providers in the UK and Ireland.
EDF is part of EDF Group, the world’s biggest electricity generator. In the UK, the company employs around 13,000 people at locations across England and Scotland.