EDF price rise means millions of people will be pushed into fuel poverty

ALMOST a million households in Scotland will now be in fuel poverty after the last of the major suppliers announced a second price rise in less than a year, it has been warned.

EDF Energy has announced increases to the cost of its gas and electricity tariffs of 15.4 per cent for gas and 4.5 per cent for electricity. The increases will take effect from November 10th.

The 15.4% jump in gas and 4.5% rise in electricity tariffs announced by EDF means that all six of the big power suppliers have now raised tariffs for the coming winter and campaigners said households had seen their annual bills rise by £224 (21%) to £1293 in 12 months.  The tariff increases mean that it is no longer possible to find a standard dual fuel deal that costs less than £1,000 a year.

EDF Energy are the last of the “big six” utility suppliers to announce a price rise in a further blow to UK households who are being ravaged by the combined effects of high inflation, job insecurity and low wage settlements.

The increases are at least slightly lower than most of the price increases announced by rival energy companies.

The price rise was inevitable as EDF follows the other major energy suppliers in the UK, British Gas, Scottish Power, E.On, Npower and Scottish and Southern Energy in announcing big increases to the cost of gas and electricity.

The price rises have led to the energy regulator Ofgem to announce that it will investigate pricing by the big six energy suppliers. Ofgem has commissioned accountants BDO to establish if the utility suppliers are understating profits in a bid to justify the massive hikes.