Households on EDF Energy’s standard variable tariff (SVT) will see prices hiked for the second time in just three months.
From 31 August, 1.3 million customers will be hit with an increase of 6% - or £70 a year - taking annual prices to £1,228 on average.
This equates to 6.1% for electricity-only customers, while gas-only users will see prices increase by 6%.
Pre-payment meter customers and those on EDF’s safeguard tariff are unaffected.
The move comes just a few months after EDF last upped prices, when they rose by up to 3.5% on 7 June.
The Big Six supplier blames wholesale energy prices rising by 18% since the start of the year.
Béatrice Bigois, EDF energy managing director of customers, says: “We know that another price rise will not be welcome, and we had hoped that our limited changes announced in April would be enough. However, energy costs have continued to rise significantly and despite our best efforts to absorb some of these by reducing the costs within our control – sadly, we can no longer sustain this.”
But EDF isn’t the first supplier to raise prices for the second time in a year. Bulb customers will see prices rise by 5.1% from 12 August, after already being hit with a 2.8% price hike from 28 April.
Kevin Pratt, consumer affairs expert at price comparison website MoneySuperMarket, comments: “EDF’s previous rise, announced in April and effective from 7 June, was relatively small compared to the other Big Six suppliers, but it was still a rise and by announcing another one today EDF is hitting customers when they’re already down.
“We’re in the height of summer and enjoying a massive heatwave, but this announcement shows that price rises, either from Big Six or emerging suppliers, can happen at any time, and usually when customers least expect it.
“The message for customers therefore is clear – take control of your energy bills by switching. If you haven’t switched for a while, the chances are you’re paying too much and one five-minute journey on a comparison site could save you £250 or more, today.”
How other energy suppliers are upping prices
Here’s how other major energy providers are increasing prices:
- British Gas customers saw prices rise by 5.5% from 29 May.
- EDF customers saw prices rise by up to 3.5% from 7 June.
- Npower customers saw prices rise by 5.3% from 17 June.
- Ovo customers saw prices rise by 5.1% from 8 June.
- Scottish Power customers saw prices rise by up to 6.9% from 1 June.
- SSE and M&S Energy customers will see prices rise by up to 6.7% from 11 July.