Energy News

EDF announces a price cut for its electricity customers

EDF follows with electricity price cut

Monday 16 February, 2009

By becca.talbot@consumerchoices.co.uk

Add a comment

Send to a friend

French energy giant EDF will cut electricity bills by an average of 8.8% for the majority of its customers.

Following in rival supplier E.ON’s footsteps, EDF (www.edfenergy.com) confirmed on Friday last week that it is cutting its electricity prices by 8.8% as of 31 March.

The reduction will cut electricity bills by an average of £40 for 2.3 million of the energy supplier’s customers; however its gas tariffs will remain unchanged because “prices were still competitive.”

“The reductions will apply in London, South East, South West, Wales and Scotland, benefiting the vast majority of our standard rate customers across the country,” EDF said in a statement.

“In other regions, EDF Energy is already offering some of the lowest tariffs on the market.”

German-owned E.ON (www.eonenergy.com) cut its electricity prices by 9% on Thursday. Like EDF, it also decided to keep gas prices unchanged.

British energy companies British Gas (www.britishgas.co.uk) and Scottish & Southern Energy have also confirmed price cuts.

British Gas will cut its gas prices by 10%, effective from 19 February, while Scottish & Southern will cut the price of electricity by 9% and gas by 4% from 30 March.

Chris Eagle, commercial manager at EnergyChoices.co.uk said: “The energy price cuts are coming in low and slow, averaging at a reduction of £66 or 5% so far, and energy suppliers are already hinting that prices will be going back up again next year.”

Eagle suggests customers watch and wait for further price cuts before deciding to switch energy suppliers: “Knowing when is the right time to switch energy suppliers is important; you don’t want to get locked into a fixed rate tariff which is more expensive. I think customers should wait for more significant price cuts, or at least until all of the UK’s suppliers have confirmed they will reduce prices, then compare energy prices.”

Compare energy tariffs >>>

Energy efficiency guide >>>