EDF Energy announces second price hike for 2018, dual fuel bills going up by another 6%

Despite announcing a 2.7% increase in electricity prices back in april, which left dual fuel customers paying 1.4% more, French-owned energy supplier EDF has announced a further price hike of 6%.

The “big six” energy supplier blamed a rise of 13% in wholesale energy costs for the price hike, adding that one of the reasons prices had risen was the intense cold snap earlier this year resulting from the arrival of the so-called “Beast from the East” weather front, which cut gas storage stocks.

That, it said, was compounded by rising oil prices on the global markets, which fed into higher UK wholesale prices for both gas and electricity.

Managing Director Beatrice Bigois 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.

“Customers who wish to avoid this increase will be encouraged to choose one of our fixed price tariffs when we write to them later this month.”

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