Rising energy prices – our update

You've probably seen the news that rapidly rising wholesale gas prices are creating some big challenges for Britain. We understand that this may be a worrying time and we want to reassure you that your energy is safe.

As Britain's best value large supplier(1) we wanted to keep you up-to-date on how we'll continue to support you through the current challenges.

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What's currently happening in the energy market?

Wholesale prices

Wholesale prices around the world have been rapidly increasing over the last 6 months. With UK gas prices rising by 70% in August alone.

Unfortunately, this means that Ofgem has had to increase the Price Cap in October and it may well increase again in April 2022.

Small suppliers

Energy suppliers, including EDF, use a practice called hedging to buy energy in advance and therefore avoid unexpected price increases. However, many small suppliers sold fixed price tariffs to their customers without buying enough energy in advance. They've therefore had to pay extremely high prices and a growing number of these companies have now gone bust in the last few weeks.

We'll be taking on customers from one of these companies in the coming weeks because Ofgem recognises us as a trusted supplier who's here for the long term.

We've recently welcomed customers from Utility Point.

So don't worry we're here for the long term!

What does this mean for our customers?

We're doing everything we can to minimise price increases. The prices you'll pay for your energy depends on the tariff you're on;

  • If you’re on one of our fixed tariffs, you’re guaranteed no price rises until the end of your contract. The great news is you won’t be affected by the current situation
  • If you're on our Standard Variable tariff, your prices will rise in October in line with the change to Ofgem's price cap. The price cap is expected to increase further in April
  • If your fixed price energy deal is about to end, your prices will rise when you choose your next fixed energy deal
  • If you’re worried about the future price increases that have been forecast, our current fixed tariff can protect your prices for the next 2 years. It's also easy to switch over

If you’re worried about paying for your energy

We don’t want anyone to stop using heat and power because they can’t afford it, particularly with winter on the way. We're here to support you if you need help to pay your energy bills or manage your debt

As Britain’s best value large supplier(1), we're committed to helping you save – even in tough times

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  • Pay a different way: Our customers save around £80(2) a year when they pay by Direct Debit, a simple and easy way to pay. Paying by Direct Debit reduces our administration costs. We can then pass these savings onto our customers. Log into MyAccount now or register to change your payments to Direct Debit. It only takes a few minutes.
  • Fix your prices for the long term: Join 1.6m of our customers who've locked in their prices on a fixed tariff, all backed by zero carbon electricity as standard. While fixed tariffs may be more expensive than Standard (Variable) at the moment, they do protect against future price rises and may help you save long term. Our best deals are in MyAccount. Log in or sign up to MyAccount.
  • Get smart: We've installed more than 2 million smart meters around the UK. Helping customers see exactly how much they spend.
    Smart meters show your energy use in real-time and can help you lower your usage and bills. Only EDF smart meter customers get free access to our unique Energy Hub service. Nearly 1/3 of our Hub users say it's helped them to reduce their energy use.


    "Seeing smart meter readings has given me an understanding of the need to save energy and money. Very pleased to have had it fitted. Thank you" (EDF customer Robert from Crewe)

    We're ready to install your smart meter. Book a smart meter installation.

  • Save at home: things like cavity wall insulation could save you up to £255 a year(3), depending on your home. Smart heating controls and turning appliances off at the wall could save you up to £105 a year(4)

How we're helping our most vulnerable customers

We're one of the first companies in the UK to sign up to Energy UK's Vulnerability Commitment. As part of this commitment, we pledge to go above and beyond when it comes to improving the services we offer our vulnerable customers. We want to look after our most vulnerable customers by offering;

  • Our customer support fund provides financial assistance to those that need it the most. We're helping customers reduce their bills and manage their debt. Providing debt relief and repayment plans. We've teamed up with a range of organisations and charities to offer you extra help when you need it the most. We're even helping with costs for things like essential white goods. Find out more about the services we offer on our personalised support service area
     
  • We're in our tenth year of providing the Warm Home Discount Scheme. This year we'll be giving approx 250,000 people a £140 discount on their energy bills over the winter months as part of our Warm Home Discount Scheme. Find out if you're eligible

 

We're proud to offer our customers

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Zero Carbon

Britain's biggest generator of zero carbon electricity(5)

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Zero Extra Cost

Zero carbon electricity at zero extra cost(6)

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Zero Hassle

Winner of 7 service awards from Uswitch

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Great Value

Named Best Value Large Supplier by Uswitch 2021