From February this year, EDF will cut the price of Gas to customer by 5% per unit. The company had initially raised the price of Gas in November last year by 15.4% per unit and the price of Electricity by 4.5% per unit. The move is expected to help bring the cost down from other suppliers.
This is good news for many households who are currently struggling to pay for the cost of household energy bills. Many are even having to make the choice to either heat or eat.
The price cut by EDF has come about as a result in the fall in the wholesale price of gas that the supplier pays. The cost of the wholesale price has fallen by 9%, however as the company has argued that as it has to pipe the gas to households up and down the country, they can only reduce the price to consumers by 5%.
EDF was one of the company’s which increased the cost of supplying households with gas and electricity prices, however the increase that the company increased their prices was less than some of the other suppliers. British Gas increased the cost to consumers of Gas by 18% and Electricity by 16%.
EDF is not the first to reduce its energy prices. Ovo announced that the cost of their gas and electricity prices would fall also.
Martin Lawrence, managing director of energy sourcing and customer supply at EDF said “We know customers are finding it difficult, particularly during winter. So I am pleased we have been able to make this announcement now and help our customers at a time they use more gas.”
The cost of the price of electricity from EDF will remain unchanged at present.