Rising energy prices – our update

The price cap was set up in 2019 by Ofgem, the energy regulator, as a way to set the maximum price an energy company can charge a customer on a Standard (Variable) tariff. The energy price cap limits your rates for each gas and electricity unit. However, it doesn't set your monthly bill, so your monthly bills will increase if you use more energy. 

What is the price cap currently set at?

The price cap was last set in April 2022 at £1,971 (based on the yearly usage of a typical medium consumption home).

Wholesale gas prices continue to increase.

Gas prices have risen for several reasons, including:

• A rise in global demand for gas as countries emerge from lockdown
• Restricted gas imports from countries like Russia
• An expectation in autumn 2021 that it would be a very cold winter which drove prices up further 
   

UK electricity prices are also under pressure for several reasons, including:

• Lower wind levels
• Wholesale electricity prices are linked to gas prices – so when one goes up, so does the other – even if it's zero carbon electricity

On May 26th, the Government announced the increase to the Energy Bills Support Scheme. This provides households with a £400 discount to help with the rising energy costs that we’re continuing to face. For more for more details on the scheme, visit the government website. Or for more details, we've pulled all the information you need in one place.

We've also listed current government schemes and benefits applicable for home energy customers further up this page.

Are businesses eligible for this discount on energy bills?

The Energy Bills Support Scheme is aimed at home energy customers. But, if you're a business that's struggling with energy bills, you may be able to make your bills more manageable by checking out our advice on what you can do to be more efficient.

In Britain, around a third of electricity is generated from processes that use gas.  That means when the cost of gas goes up, so does the cost of generating this electricity.

Around another third of the electricity sent through the national grid is from renewable sources like wind and solar, but renewable generation is variable.  This means that when the sun doesn’t shine and the wind doesn’t blow, renewable sources can’t generate as much.  When this happens, and to keep up with the demand for electricity, the grid has to top up with gas powered electricity.

At EDF we’re investing in the right mix of wind, nuclear and solar to power the nation whatever the weather, and help Britain move away from its dependency on gas.  That’s why all our fixed home energy customers get zero carbon electricity as standard. 

Find out more about how we're investing in renewable and nuclear energy.

Existing EDF customers

Our Standard (Variable) tariff is the cheapest tariff today, and you don't need to do anything to stay on this. 

With the energy market as it is at the moment, it isn't easy to find great energy deals anywhere. Of course, this doesn't make it easy for customers, but the choice is down to you.

Sticking on one of our variable tariffs?

The Standard (Variable) tariff is our cheapest tariff today. However, it's expected that prices will rise again in October when the next Ofgem price cap review happens.

Choosing a fixed price energy deal

Fixed prices are more expensive than Standard (Variable) tariffs right now, but they protect against future price rises and may help you save long-term. Existing customers can view all our current available tariffs in MyAccount.

Want us to alert you when energy prices go down? Then, sign up for our price alert emails, and we'll let you know when this happens.

To help, we can give you a smart meter and access to our Energy Hub for free. This service will help you understand how much energy you use, plus give you personalised energy-saving tips and advice.

If you're on a fixed price tariff, you won't be affected by the rise in the price cap. You're guaranteed no price rises until your fixed tariff ends. When your fixed price tariff ends, you'll be offered a choice to switch to a new fixed tariff or go onto our Standard (Variable) tariff.

We'll always contact you in plenty of time to let you know when your fixed prices are ending and make it easy for you to make an informed choice about the best deal for you at that time.

What should I do when my existing fixed tariff ends?

There are a couple of options for you.

Choose another fixed tariff. A fixed tariff gives you peace of mind against future price rises, as you pay a set price for each unit of energy you use over the lifetime of your contract. It means that when energy prices are going up – as they are now – the unit price you pay stays the same regardless. 

Roll onto our Standard (Variable) tariff

If you don't want to fix your prices. You'll roll onto our Standard (Variable) tariff automatically.

Sometimes we have to increase your Direct Debit payments. Here are the most common reasons why and when this can happen:

1. Your energy prices have gone up

Your energy costs for the year will go up when your prices rise. To keep you on track to pay for these higher costs, we have to increase your monthly payments.

But they don't change straight away. We only change your monthly payments after a Direct Debit review (which happens twice a year).

We review your account at the end of your Direct Debit year to check you've paid the right amount. If we find you've paid a bit too much, or not enough, we roll your credit or debit into your future monthly payments. At this point, if you have £40 credit or more – and we have an up-to-date meter reading – you get an automatic refund.

Everyone on a standard variable or prepayment tariff saw a sharp price rise on 1 April 2022. The price of a new fixed tariff is also much higher than ever before. This is due to high costs in the energy market.

Many people are now taking steps to cut their energy use. Get energy- saving tips that can help you keep your energy bills down.

2. You're using more energy

There are many reasons why you might be using more energy:

• someone new has moved in
• you've started working from home more
•  it's been extra cold
•  you've had new electrical appliances

3. There wasn't enough credit on your account – or there was too much debit

It's normal to see credit and debit on your account when you pay by Budget Direct Debit (regular monthly payments). It's how you spread your energy costs evenly over the year, even though you use more energy in winter and less in summer.

Halfway through your Direct Debit year, we'll check in on your latest energy use and see what debit, credit and charges are on your account. If you're not on track to cover your energy use, we'll put your payments up.

If you have any other questions about Direct Debit, head to our Direct Debit FAQs.  

Our what makes up your energy bill page will explain exactly how your electricity and gas bills are broken down. You can also find out more about how your tariff is broken down and what the different charges mean. 

Our phone lines are very busy at the minute. We're focusing on helping our more vulnerable customers, and those with emergencies. There are lots of ways you can keep on top of your energy account online including:

• paying bills
• submitting meter reads
• booking a smart meter appointment
• viewing your bills and statements
• choosing your next energy tariff
• Get a better idea of where you use your energy at home. You also get tips to help you save on your energy spend by using our Energy Hub
• extra support through our personalised support services

We also have other ways to contact us if you need to.