EDF raise prices by 10.8%

EDF have become the latest energy firm to declare a price hike which will see a 10.8% increase in customer fuel bills.  

The move described as a “hammer blow” will affect 3.1 million people in the UK, in response EDF admitted the rise would be “unwelcome” (understatement of the year) and blamed the rise on the cost of wholesale energy prices.

While other energy firms SSE, Scottish Power, British Gas and npower, have all announced price rises recently, EDF are the first to do so after PM David Cameron promised to ensure that customers would get the lowest available tariffs.

So either this decision by EDF is a clear sign that energy firms are snubbing the government and are simply refusing to listen to them, or they are raising their prices now to squeeze as much money as they can from their customers before they are forced to offer them the lowest tariff.