EDF hikes energy tariffs
EDF hikes energy tariffs
Monday 28th July 2008
As of July 31st, the company's gas and electricity tariffs will rise by 17 per cent and 22 per cent respectively.
The increase will mean that the average family's bill will go up by £190 to bring their annual expenditure on energy to over £1,000.
David Kuo, head of personal finance at Fool.co.uk, said: "EDF could not have timed its increases better to suit its own purpose.
"School holidays have just begun, and many families who are already abroad cannot easily react to today's increase."
He added: "It gains a tactical advantage by stemming the loss of customers to other suppliers because if the customers aren't around, they can't readily switch."
The hike is expected to be emulated by rival providers within the next few months.
EDF's price increase is the latest blow for consumers who are already struggling with higher bills for energy and food as well as increased housing costs.
This has fuelled a spike in demand for debt consolidation loans and debt help in recent months, as Britons to turn to professionals for debt advice.
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