EDF to increase energy prices for 1.2m homes
Published ¤ 01/09/2010 15:52:01
Electricity prices are set to rise for more than one million households, amid fears of higher power bills for all.
The French-owned supplier EDF is putting up the price of its electricity by 2.6 per cent for 1.2million customers from October.
It will apply to customers on a standard tariff in 11 regions and Economy 7 tariffs in three areas.
The rise comes despite the relatively low wholesale cost of electricity and gas.
Energy expert Thomas Lyon, from price comparison website uSwitch.com, said: "No matter how this is dressed, this is a price rise and will be worrying news to consumers.
"Energy price rises are generally driven by a consistent upward trend in wholesale costs but it should not be seen as a green light for increases across the board."
EDF made profits of £2.5billion in the first 6 months of the year, but has had to review regional prices in response to a 16 per cent increase in the cost of distribution and transmission.
An EDF spokesman said "We have been absorbing these costs for many months, but we now have to pass on some of the resulting rise."
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