EDF Energy are putting up their electricity prices for over a million customers.
Most customers will see their bill rise by £16 a year, but when are prices going up and who owns EDF Energy?
When will my electricity prices go up?
The prices on EDF Energy’s standard variable electricty tariffs will go up from June 7.
Prices will be going up by 1.4 per cent which means customers will be spending £16 a year more for their electricity.
Totalling £1,158 a year for the typical duel fuel bill.
Just over 40 per cent of EDF Energy’s customers will be affected.
What is a standard variable tariff?
Standard variable tariff’s are rolling contracts which have no fixed end.
They are usually the most basic energy packages that a company can provide.
If you are on a fixed term contract and that ends you will often be automatically switched onto a standard variable tariff until you choose a new contract.
Despite being the most basic, standard variable tariffs can often be more expensive than other deals from the same provider.
Most EDF Energy customers are not on standard variable tariffs, you find out how to switch here.
BT scrapped their standard variable tariff last year amid calls to end the rip off tariffs.
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Who owns EDF Energy?
EDF Energy was formed in 2002 after SEEBOARD Plc, London Electricity Plc and SWEB Energy Plc were all merged together.
The company is wholly owned by french company EDF.
EDF stands for Electrcitie de France, and is largely owned by the French state.
The British arm of EDF, EDF Energy, is the one of the largest distributors of energy in the UK.
EDF Energy owns two 2,000 mega watt coal powered power stations in Nottinghamshire.
This means EDF has the highest powered fossil fuel generators in the UK.
The company made profits of £1.5 billion last year, one third less than the year before.
Here is how to cut your energy bills
How much will my energy bill go up by?
On average EDF Energy say that customers on standard variable tariffs who pay by direct debit will pay an extra £16 a year.
Whereas those on the duel fuel tariffs paying by cash or cheque can expect to see a £28 pound increase in their bills this year.
EDF Energy blame the price rises on the continuing rising cost of energy, policy and installing smart meters.
Managing Director of Customers for EDF Béatrice Bigois said: “We know that price rises are not welcome and we have worked to offset rising energy and policy charges by cutting our own costs.
“However, these rising costs mean we will be increasing our standing charge for electricity on the 7th June, affecting around 40% of our customers.”
“Most of our customers, those on a fixed tariff, or who have a Direct Debit gas only account, a safeguard tariff or prepayment meter will be unaffected by this change.”
Gas prices for EDF energy customers will be unaffected.
Driver spotted reading electricity bill during rush hour on a motorway
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