GoCompare Energy is reminding households to switch their tariffs this autumn after EDF announced its planned price increases earlier this week.
EDF customers will see their annual energy bills increase by 12.24% bringing their average cost per annum up from £1137.99 to £1277.22 - the equivalent to an increase of £139.23, which will come into effect from October 1 this year.
The variable default tariff increases generally follow the price cap change, which was announced earlier this month by Ofgem. That announcement on August 6 took the cap to £1,277, which was a £139 increase on the previous cap announced in April 2021.
The energy price cap was implemented by the energy market regulator to ensure that consumers always pay a fair price for gas and electricity and it is reviewed every six months.
EDF is the first energy provider to announce its price increases, but more are expected to follow in the coming weeks.
Commenting on the price increase, Gareth Kloet of GoCompare Energy, said: “The Ofgem price cap sets the ceiling for the energy market, but it shouldn’t be relied upon as a way to make sure you’re not paying over the odds.
“The energy cap is reviewed twice a year by Ofgem and while we knew these increases were coming, it will be a bitter pill for some bill payers who may already be struggling with a shortage of money following the pandemic, or may still be out of work.”
He added: “Each time the cap is reviewed, it should act as a reminder for people to switch and make sure they are getting the best possible price for their gas and electricity.”
For more information about switching energy, visit the GoCompare website here.
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