EDF has confirmed that its standard variable tariffs will be increasing from 1st October, which comes after the news of Ofgem announcing its highest ever price cap.
The SVT price cap is sitting at a historic high, and EDF today announces it will raise its prices in line with the cap at the max of £1,277.
Philippe Commaret, Managing Director of Customers at EDF, said:
“As Ofgem has explained, it is global gas prices that have caused the unprecedented increase in wholesale energy costs and as a sustainable, long-term business we must reflect the costs we face."
“We will be directing financial assistance to those most in need through our £1.9m support fund, helping customers reduce their bills, manage their debt and even helping with costs for things like more energy efficient white goods."
“Customers on tariffs that are due to change in October will be written to, reminding them to check that they are on the best tariff for them.”
Switch to protect yourself
The price rise will come into effect from October, meaning consumers have a while to switch to a fixed deal to protect themselves from the inevitable price rises.