Gas and electricity bills are set to soar in April following the energy price cap increase. Energy regulator Ofgem revealed that the price cap will be increasing by 54%, with the new prices coming into effect from April 1.
The energy price cap is the maximum amount that suppliers can charge customers for the gas and electricity they use. The price cap rise means that bills will increase from £1,277 to £1,971 for an average household.
Prices have increased due to a rise in global demand for gas as countries emerge from lockdown, which has been further exacerbated by restricted gas imports from Russia. The exact amount that customers' bills will increase will depend on the amount of energy they use.
Energy providers will be contacting customers to let them know how these changes will impact them ahead of the price cap rise in April. Martin Lewis, founder of Money Saving Expert, has shared tips on the things Brits can do before the price increase kicks in, which you can read about here.
What does this mean if you are a customer with EDF Energy? As one of the UK's big six energy companies, EDF supplies energy to millions of homes. Here's our guide to everything that EDF customers need to know about the energy crisis.
Which customers will be affected by the price cap increase?
EDF customers who are on a standard (variable) tariff or deemed tariff will see their bills rise in line with Ofgem's new price cap. EDF will be contacting these customers in the coming weeks to explain exactly how their household bills will be impacted.
EDF's standard variable tariff prices will rise to an average of £1,971 per year, with customers seeing an average annual increase of £693.
What about those on other tariffs?
EDF prepayment customers are likely to see their tariff rise from the current maximum allowed under the price cap to the new limit. Customers on fixed tariffs will not see their prices change until after their current tariff ends.
Free smart meters
To help customers understand how much energy they use, EDF is offering customers a smart meter and Energy Hub access for free. The Energy Hub can be accessed online and uses smart meter data to give customers a personalised view of their energy use, along with tips to help save money and reduce their carbon footprint.
Along with helping customers to see how much energy they are using, smart meters also provide automatic meter readings, which they send to EDF directly.
How is EDF supporting customers who are struggling?
EDF is offering extra help to customers who are struggling with their bills in light of the fuel cap increase. The energy provider can agree on smaller debt repayments when customers switch to a smart pay as you go meter.
EDF also suggests switching to direct debit payments where possible, as customers can pay less for each unit of energy they use. Customers can change the way they pay for their bills by logging onto their EDF MyAccount.
Vulnerable customers may be eligible for an EDF Customer Support Fund grant through its Priority Services Register, which offers extra support and advice to those who need it.
