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| EDF raises gas and electric bills | EDF raises gas and electric bills |
| (20 minutes later) | |
| EDF Energy has announced it is putting up gas prices by 22% and electricity prices by 17% for domestic customers. | EDF Energy has announced it is putting up gas prices by 22% and electricity prices by 17% for domestic customers. |
| The firm has blamed the increase, which comes into effect on 25 July, on record wholesale energy costs. | The firm has blamed the increase, which comes into effect on 25 July, on record wholesale energy costs. |
| Energy companies have been widely expected to raise the costs of utility bills this summer, as wholesale prices have been rising. | Energy companies have been widely expected to raise the costs of utility bills this summer, as wholesale prices have been rising. |
| EDF is the first of the major suppliers to raise prices this summer and others are expected to follow suit. | |
| The company says it has been absorbing higher costs in recent months but it now needed to pass on costs to customers. | The company says it has been absorbing higher costs in recent months but it now needed to pass on costs to customers. |
| It is the second rise for EDF customers this year. | |
| 'Unprecedented rises' | 'Unprecedented rises' |
| It said that energy prices had increased by 70% for coal, 63% for gas, and 47% for electricity since it last increased its prices. | It said that energy prices had increased by 70% for coal, 63% for gas, and 47% for electricity since it last increased its prices. |
| EDF - which has about 5.5 million UK customers - increased gas prices by 12.9% and electricity prices by 7.9% in January. | EDF - which has about 5.5 million UK customers - increased gas prices by 12.9% and electricity prices by 7.9% in January. |
| Eva Eisenschimmel, chief operating officer of EDF Energy customers branch, said the company had been doing everything it could to keep its own costs in check. | Eva Eisenschimmel, chief operating officer of EDF Energy customers branch, said the company had been doing everything it could to keep its own costs in check. |
| "Record world oil prices have continued to drive up wholesale gas prices. Alongside unprecedented rises in wholesale coal and electricity costs, this has impacted hugely on the cost of supplying energy to our customers," she said. | "Record world oil prices have continued to drive up wholesale gas prices. Alongside unprecedented rises in wholesale coal and electricity costs, this has impacted hugely on the cost of supplying energy to our customers," she said. |
| However, oil prices have started to dip again in recent weeks. | However, oil prices have started to dip again in recent weeks. |
| Price warnings | |
| The move by the French company, one of the largest suppliers in the UK, is likely to prompt similar moves by the other "big six" energy companies. | |
| The wholesale price is affected by the price of oil | |
| It will highlight concerns over the number of people in fuel poverty - those spending more than 10% of their household income on fuel bills. | |
| EDF said 100,000 of its most in need customers would benefit from 15% discounts on bills as it had extended its social tariff scheme. | |
| It also said it was supporting the concept of a targeted fuel voucher scheme this winter. | |
| The price rises come the day after rival company Scottish and Southern warned customers it was likely to increase electricity and gas prices. | |
| Last week a report for British Gas owner Centrica said gas bills could rise to more than £1,000 early in the next decade. |