Over a million EDF Energy customers face price rises today.
The power giant is hiking electricity costs by 2.6% in most of the UK, at a time when household consumption will rise due to fewer daylight hours (see the Cheap Gas & Electricity guide).
It is the first power firm in two years to increase the cost of its standard energy prices.
Until now, firms had largely only raised prices for new customers, meaning those on existing tariffs were unaffected, other than those whose cheap deal was due to expire (see the Energy deals pulled MSE News story).
Some 1.2 million customers will be hit. But those in the London, South east and South west regions are unaffected.
In addition, anyone on EDF’s Online Saver versions 3 to 7 tariffs won’t see rises, regardless of where they live. This group should include most recent switchers who opted for a variable deal.
EDF says the typical annual price increase will be £11.
Price comparison site Energyhelpline.com also points out that customers on EDF’s Online Saver 2 deal will see additional hikes today as their offer expires so they will be moved to the supplier’s standard tariff.
What should you do?
As the rises largely affect those on its expensive standard tariff, those hit should switch tariff altogether by opting for a cheap, online deal.
This may be from EDF or another supplier but this all depend on where you live and how much power you use, so do a comparison to find the best deals (full info in the Cheap Gas & Electricity guide).
Further reading/Key links
Slash energy costs: Cheap Gas & Electricity
Your rights: Fight Energy Direct Debits
Capped tariff help: Is Your Cap/Fix Ending Soon?
Boiler protection: Boiler Cover