EDF SVT customers face 10% hike in energy bills

EDF SVT customers face 10% hike in energy bills

EDF customers on standard variable tariffs (SVTs) face a 10% increase to energy bills from the 1st April after Ofgem increased its energy price cap, according to comparison website uSwitch.com.

Gas and electricity bills are set to rise for 1.3 million EDF customers to £1,254, up £118, to the level of the energy regulator’s new price cap, which was announced last week as a result of rising wholesale costs.

Furthermore, prepayment meter customers will also see an increase of £106 or 9% in prices.

EDF has become the second Big Six energy firm to increase prices, following the Ofgem move to increase the price cap, after E.ON announced a 10.3% price increase for 1.8 million customers.

Rik Smith, energy spokesman at uSwitch, said: “As soon as Ofgem increased the price cap level it became almost inevitable that most customers on standard deals would see their bills rise right up to the cap.

“EDF Energy are the second of the Big Six suppliers to increase their prices, and we wouldn’t be surprised to see a domino effect with other energy companies following suit.

“EDF Energy customers will see their bills rocket by £118 on average a year from April 1, and their standard tariff will be £286 more expensive than the cheapest deal available today.

“But some households on standard tariffs will be hit harder than the average if their supplier prices up to the cap, which could push their bills to the edge of affordability.

“People who are already struggling with their bills are the ones who will suffer most if they are conned by the idea that the price cap represents a ‘fair’ deal.”

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