EDF’s chief executive, Vincent de Rivaz, has attributed the impending price rise to a continued increase in world energy costs.
The company is offering to suspend the price increase until at least March 31, 2006 for its 250,000 customers ‘most in need’. Customers who want to take up this offer need to contact the company to confirm their eligibility. This initiative is in line with recent calls from the DTI, Ofgem and Energywatch for the industry to fight fuel poverty.
London Energy, Seeboard Energy and SWEB Energy are to increase their gas and electricity prices from January 17, 2005. For domestic customers on the standard tariff the increases will be 5.4% for electricity and 8.1% for gas.
In addition, EDF has also launched a new capped price product for residential customers, which guarantees no further price increases before 31st March 2007. For under 50 pence per week extra, their price cannot go up but could go down during the period. This offer is open to the first 100,000 customers who apply before March 31, 2005.
