The size of today's increases are rather startling - 11 percent.
Rivals, on average, are 7 percent. It means that the typical EDF customer is going to be paying £122 more this year.
The company says that its charges are the lowest amongst its peers, and it's keen to explain that it's own costs have been rising.
It's having to make investments, the wholesale price of gas is increasing - we may hear more about that sort of thing next week.
Fuel price moves are a very important factor in inflation. The economy has had a boost as we heard yesterday with the GDP figures. In part, inflation has fallen from a peak last year at 5.2% down to 2.2% in september.
A large chunk of that fall was because of cheaper fuel bills, and as those fuel bills get more expensive again we could see inflation rise to 2.5% or more and that could hurt the recovery.
Millions of people face a winter of misery as EDF clobber households with above-inflation price rises at the very time they can least afford it. People will not understand why EDF are hiking up their bills by so much when they made nearly £1.6 billion in profits last year.
– Caroline Flint, Shadow Energy and Climate Change Secretary
We know that customers will not welcome this news and do not want to see prices going up. Our new prices will however be cheaper on average than those of all the other major suppliers which have announced standard price rises so far this autumn. We’ve taken extra measures to make sure the most
vulnerable benefit from the best deals and we continue to help customers reduce their bills with energy efficiency measures.
It’s worth pointing out that one in five of our customers are already on competitive fixed priced tariffs and will not be affected by these price changes this winter.
Following the announcement EDF Energy is to increase its gas and electricity prices by 10.8%, the energy supplier maintains its prices will be cheaper for the average customers, compared to other major suppliers. A statement on its website says:
EDF Energy’s new standard prices still cheaper on average for typical customers than all other major suppliers which have recently announced price rises.
Most vulnerable elderly customers to benefit automatically from cheapest available tariff prices.
New fixed price deal allows customers to fix prices for three winters.