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More Energy Price Hikes from the Big Six

07-10-2018 11:12 AM CET | Energy & Environment

Press release from: Smarter Business

Smarter Business recently reported that all of the Big Six increased their energy prices (https://smarterbusiness.co.uk/uk-gas-prices-and-electricity-prices-continue-to-rise). The ink had barely dried before EDF Energy has announced yet another price hike.

The energy giant will be increasing standard variable tariff (SVT) prices on 31 August by 6%:

- The gas tariff will increase by 6%
- The electricity tariff will increase by 6.1%

This amounts to £1,228 a year, adding £70 to the typical UK energy bill.

All EDF Energy customers on standard variable customers are affected- currently about 40% of its total customers. However, Customers on a prepayment tariff, fixed price tariff, or the safeguard tariff for vulnerable customers will not be affected by the planned increase.

Why the does the cost of energy continue to rise?

EDF cite 'significant increases in the cost of wholesale energy since the start of the year' for the energy price hike. The firm says that it has seen a 13% increase in wholesale costs since April. One of the reasons for this is the high demand during the winter storm period. EDF also says that that raw energy costs in the form of gas and oil have shot up.

Béatrice Bigois, EDF Energy managing director of customers, said: “We know that another price rise will not be welcome, and we had hoped that our limited changes announced in April would be enough. However, energy costs have continued to rise significantly and despite our best efforts to absorb some of these by reducing the costs within our control – sadly we can no longer sustain this.”

How to avoid energy price hikes

- Switch suppliers to change to a cheaper tariff
- Choose a fixed price energy tariff
- Use the services of an energy broker such as Smarter Business (https://smarterbusiness.co.uk/) to do the legwork on your behalf, at no additional cost to you!

Smarter Business is one of the UK’s leading independent consultancies, helping businesses secure the most comprehensive savings solutions from utilities contract management and procurement to business loans and facilities maintenance. https://smarterbusiness.co.uk/gas-electricity/

John De Mierre House
20 Bridge Road
Haywards Heath
West Sussex
RH16 1UA

info@smarterbusiness.co.uk
01444 220060

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