Energy companies have announced more price rises in a move that will see households hit by a 6% hike in the near future.

The energy companies said plans to increase standard variable tariff prices on 31 August, following “significant increases in the cost of wholesale energy since the start of the year”.

As an example EDF’s energy standard variable dual fuel tariff will increase by 6% to £1,228 a year - adding £70 to the typical bill.

The standard variable electricity and gas tariffs will be increasing by 6.1% and 6% respectively.

The changes will affect EDF Energy standard variable customers, currently 40% of customers.

Those on a fixed price tariff, prepayment tariff or the safeguard tariff for vulnerable customers will not see any changes.

The news comes just weeks after the energy giant was slapped with a £350,000 fine for missing Ofgem's smart meter target last year.

It also follows a string of price rises announced over the past two months - with SEE leading the way after confirming an imminent 6.7% rise for 2.36 million households.

Why are prices going up?

Wholesale prices for dual fuel have increased by 18% so far this year, increasing sharply since April, EDF said.

This is due to a number of factors, the energy firm added, including the ‘Beast from the East’ reducing gas storage stocks over the winter, compounded by global oil markets feeding into higher UK wholesale prices for both gas and electricity.

Act now to avoid further increases

With all these increases and more promised surely its time to check out your homes energy efficiency. First and foremost check your loft insulation, having the correct level of insulation could save each household over £350 per year. Check on this site to see if you qualify for financial assistance, if you meet the criteria insulation could even be fitted free!

Can we help?

If you would like more details of how to make your home more energy efficient please do make contact and one of our advisers will be happy to help?

On the up again
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On the up again
Energy companies have announced more price rises in a move that will see households hit by a 6% hike in the near future. The energy companies said plans to increase standard variable tariff prices on 31 August, following “significant increases in the cost of wholesale energy since the start of the year”. As an example EDF’s energy standard variable dual fuel tariff will increase by 6% to £1,228 a year - adding £70 to the typical bill. The standard variable electricity and gas tariffs will be increasing by 6.1% and 6% respectively. The changes will affect EDF Energy standard variable customers, currently 40% of customers. Those on a fixed price tariff, prepayment tariff or the safeguard tariff for vulnerable customers will not see any changes. The news comes just weeks after the energy giant was slapped with a £350,000 fine for missing Ofgem's smart meter target last year. It also follows a string of price rises announced over the past two months - with SEE leading the way after confirming an imminent 6.7% rise for 2.36 million households. Why are prices going up? Wholesale prices for dual fuel have increased by 18% so far this year, increasing sharply since April, EDF said. This is due to a number of factors, the energy firm added, including the ‘Beast from the East’ reducing gas storage stocks over the winter, compounded by global oil markets feeding into higher UK wholesale prices for both gas and electricity. Act now to avoid further increases With all these increases and more promised surely its time to check out your homes energy efficiency. First and foremost check your loft insulation, having the correct level of insulation could save each household over £350 per year. Check on this site to see if you qualify for financial assistance, if you meet the criteria insulation could even be fitted free! Can we help? If you would like more details of how to make your home more energy efficient please do make contact and one of our advisers will be happy to help?
2018-08-20 10:21:02
2018-08-20 10:21:02
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