UK Energy price risesApril 19th, 2018
Last week saw raises in UK energy prices with EDF Energy raising its electricity prices by 2.7%, days after British Gas raised prices for 4.1 million of its customers.
EDF’s move, which will affect 1.3 million customers, will see electricity prices rise, but gas prices remain unchanged from 7 June.
As a result, typical standard dual-fuel customers will see their bill rise by 1.4%, or £16 a year.
EDF say that the price rise ‘reflected the increase in some of the fixed costs associated with supplying electricity’. It does come after
EDF raised electricity prices twice last year, putting them up by 8.4% in March and 9% in June.
The latest change has been announced two days after the UK’s largest domestic energy supplier, British Gas, said it would raise gas and electricity prices by 5.5%, or £60 a year, for customers on default deals from 29 May.
That price rise was branded as “unjustified” by the government.
It appears that the first price rise from British Gas opened the floodgates and we are now officially in price rise season. The new forthcoming energy price cap, even though it is still months from being signed off and introduced, is looking like a key factor in this round of price rises. The big six suppliers know they have a short window to adjust prices upwards before the government starts to enforce pricing legislation upon them.