EDF Energy is raising gas and electricity prices by 6% for approximately 1.3 million customers on standard variable tariffs from 31 August
Bills will increase by £70 from £1,158 to £1,228 – the equivalent of £91 million nationwide
40% of EDF Energy’s customers will be affected
This is EDF Energy’s second price rise in three months, with the supplier blaming rising wholesale and policy costs for the increase[1]
EDF Energy’s standard tariff will now be £371 higher than cheapest deal on the market
Households are urged to show energy companies they won’t be taken for granted and save up to £482 by switching supplier****.
EDF has raised the price of its Standard Variable Tariff by £70 from 31 August, adding a collective £91m to the bills of 1.3 million households.
Commenting on the news, Shona Eyre, Uswitch.com energy expert, says: “Energy customers’ worst suspicions have been confirmed and it looks like a second wave of price rises is now well under way.
“EDF say they’re simply passing on the cost of increasing wholesale prices, but customers on standard variable tariffs are already paying more than they need to. The good news is that they can quickly and easily protect themselves by switching, and save up to £482 at the same time.
“Don’t wait for yet more companies to jump on the price rise bandwagon. Households across the country should vote with their feet by locking in a cheaper fixed-rate tariff, and remind energy suppliers that if they feel taken for a ride they will find a better deal elsewhere.”
Table 1 – changes to ‘big six’ Standard Variable Tariffs 2018
| Supplier | SVT Tariff Name | Previous SVT price | New SVT price | Difference | Comes into effect from | |||
|---|---|---|---|---|---|---|---|---|
| E.ON* | E.ON Energy Plan | £1,123 | £1,153 | £30 | 2.7% | 19 April | ||
| British Gas | British Gas Standard Variable Tariff | £1,101 | £1,161 | £60 | 5.4% | 29 May | ||
| EDF Energy | Standard (Variable) | £1,142 | £1,158 | £16 | 1.4% | 7th June | ||
| Scottish Power | Standard | £1,147 | £1,211 | £64 | 5.6% | 1st June | ||
| npower | Standard SC | £1,166 | £1,230 | £64 | 5.5% | 17th June | ||
| SSE** | Standard | £1,109 | £1,196 | £87 | 7.9% | 11th July | ||
| E.ON | E.ON Energy Plan | £1,153 | £1,208.45 | £55 | 4.8% | 16th August | ||
| EDF Energy | Standard (Variable) | £1,158 | £1,228 | £70 | 6% | 31st August |
Source: Uswitch data, correct as of 5th July. Prices based on average annual usage for a dual-fuel tariff, paying by monthly direct debit.
*E.ON price change represents removal of £15 per fuel paperless and dual fuel discounts
**SSE price change includes removal of £6 per fuel paperless discount
FOR MORE INFORMATION
Tim Dunford
Phone: 020 3872 5612
Mobile: 07785 552666
Email: tim.dunford@uswitch.com
Twitter: @uswitchPR
Notes to editors
1.3 million households estimated, based on EDF Energy press release saying 40% will be affected. Contact ailene.barr@uswitch.com for more information. £70 x 1.3 million = £91 million
Cheapest tariff data, correct as of 5 July 2018. £1,128 - £857 = £371
Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £482 or more.
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