EDF bills to increase by £120 per year
EDF has increased its residential energy prices, with gas costs rising by 15.4% and electricity by 4.5%.
The company claims the hike, which is set to come into effect on 10 November, will add around 33 pence per day to a dual fuel bill, at typical consumption and based on a national average.
This equates to an extra £120.45 over the course of a year.
Vincent de Rivaz, Chief Executive of EDF Energy said: ‘We have absorbed rising wholesale energy, network and other costs [for] as long as possible, but must reluctantly now pass some of these through to consumers.’
The Big Six
This means that all of the ‘Big Six’ UK energy companies have now hiked their prices over recent months.
ScottishPower was the first to announce increases, with its customers’ gas bills rising by 19% and electricity by 10% on 1 August.
British Gas then announced an 18% increase in gas and 16% rise in electricity prices from 18 August.
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E.ON’s residential gas prices increased by 18.1% and electricity by 11.4% on 13 September, followed by Scottish and Southern Energy, which increased its gas costs by 18% and electricity by 11% the next day.
On 1 October, npower’s single fuel customers will see their gas bills increase by 15.7% and electricity by 7.2%.
The average standard monthly direct debit dual fuel customer will see an increase of 37 pence per day, or £135.05 over the course of a year.
How to cut your bills
There are a number of ways in which you can combat the recent price hikes. First of all, use a comparison tool to see if you are on the cheapest tariff, if not, then switch now.
The Energy Saving Trust recommends a few simple things could make a big difference:
- Switch to energy saving light bulbs. These could save you around £45 over the lifetime of a bulb
- Use a laptop instead of a desktop as they typically use around 85% less energy
- Turn appliances off, don’t leave them on standby
- Don’t leave laptops and mobile phones plugged in once they are fully charged
- Fill up the washing machine and dishwasher – one full load will use less energy than two half loads
**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**
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