July 28, 2008
EDF announces gas and electricity price increase
One of Britain’s largest energy providers ,EDF Energy, has said that it will increase the cost of its gas and electricity bills by 22% and 17% respectively. Industry experts had already predicted that huge increases are on the way, with some analysts saying that they expected to see energy bills soar to 70% above current prices in the next few years.
The price hike will be unwelcome news for the power provider’s five million customers. It has been estimated that anyone who purchases both gas and electricity from EDF can expect to have an average of £200 added to their annual energy bill.
EDF may find it difficult to defend critics of the current increases, as the price of oil has fallen by over 12% in recent weeks. However, EDF stated that it had to take this course of action because wholesale energy prices had risen by around 70% since the start of the year.