EDF Energy has announced an average price rise of 3.9% from 3rd January 2014. They are the fifth of the big six to raise prices, and said they were holding back rising costs, including from the Energy Company Obligation (Eco) social and environmental scheme in order to limit price rises for customers.
Scottish Power, Npower, British Gas, and SSE recently announced bill hikes of between 8.2 and 10.4%.
EDF Energy new average standard variable price will now be £1,300 which is a rise of £49 per year. The company said it had taken action ahead of the government’s review of Eco schemes.
EDF have said that if the government make changes to the costs of environmental and social schemes that are more than anticipated, they will pass the savings on to the customers.
However, the firm said if changes to social and environmental programmes are less than anticipated, it “may have to review its standard variable prices again”.
Vincent de Rivaz, EDF Energy’s chief executive said that non energy costs and a constant increase in energy prices could increase the consumer burdens further.
He also called for a Competition Commission inquiry into the energy supply market and he renewed his proposal for Ofgem to adopt petrol forecourt-style pricing.
He said “The best way to help customers is for us to keep our prices as low as possible, I know that price rises are always unwelcome, but we have taken the first step to show what can be done if rising costs are tackled head-on”.
“We are ahead on the Eco scheme and our experience has been positive but we must also challenge the cost and affordability of this and other schemes.
“Something can and must be done for consumers.”