EDF Energy announces electricity price cut
Just a day after energy supplier E.ON announced a 9% reduction in the price of electricity, EDF Energy has said it will cut electricity prices by an average of 8.8%.
Electricity customers who will see a price decrease are those on standard tariffs and Energy Assist tariffs located in London, the South East, the South West, Wales and Scotland.
EDF customers in South Wales stand to benefit most from cuts, with their electricity bills expected to fall by 12.5%.
Those in London and the South East, however, will see far smaller savings of 5.5% and 4.5% respectively.
EDF Energy will not be reducing the price of gas for its customers. However, the company claims its prices are still competitive.
The electricity price decrease announced on Friday means EDF Energy’s average dual fuel customers will see a reduction of £21 a year from their energy bills.
What’s next?
EDF Energy is the fourth of Britian’s ‘big six’ energy suppliers to announce price cuts since January. British Gas’s 10% cut in the price of gas will take effect this Thursday, and Scottish and Southern Energy and E.ON have announced reductions that will kick in at the end of this month. It is now likely that npower and Scottish Power, the two major energy suppliers yet to make price moves, will announce changes to their tariffs in fairly short order. BeatThatQuote.com will keep you updated on these announcements as they happen.
**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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