EDF Energy cuts standard gas price by 5%

• EDF Energy’s new standard gas direct debit price will be £566 a year
• EDF Energy’s new standard dual fuel direct debit price will be £1,069^[1] a year
• Other external cost increases offset lower operating and wholesale costs

EDF Energy has announced a 5%^[2] cut to its standard gas price effective from 24 March. The reduction will decrease EDF Energy’s average standard gas price by £31^[2].  The cut will benefit around 900,000 customers.

The 5% price reduction announced today is linked to falls in wholesale gas costs. However, despite improvements to operating efficiency, external costs included in a customer’s electricity and gas bills have increased, some significantly. This has limited the size of today’s gas reduction and the company’s ability to pass on falls in wholesale electricity costs.

Beatrice Bigois, Managing Director of Customers at EDF Energy said: “We are pleased that we can reduce customers’ gas bills for the second time in just over a year.

“Our prices are under constant review and today’s announcement reflects falls in wholesale gas costs. There are other costs impacting customers’ energy bills that are beyond our control – these increased steadily during 2015.”

EDF Energy was recently rated top of the major suppliers on the Institute of Customer Service’s Customer Satisfaction Index. Customers are not charged extra to contact the company’s UK-based call centres and its fixed tariffs don’t have hidden costs, such as exit fees.

Over 1.5million EDF Energy customers have chosen to sign up to its attractive fixed tariffs. This is approximately 45% of the company’s customers.

1. Based on a dual fuel direct debit bill at typical consumption averaged across all regions. Typical use as defined by Ofgem is 3,100kWh standard electricity and 12,500kWh gas.
2. Based on a gas bill at typical consumption averaged across all regions and payment types. Typical use as defined by Ofgem is 12,500kWh gas.