The utility said that, for its standard tariff dual fuel customers, this will mean a reduction of over GBP63 per year. The company added that, since 2004, a typical EDF Energy credit customer buying both gas and electricity will have saved GBP240 compared to British Gas.
EDF Energy also announced that, as part of the company’s ongoing social and environmental initiatives, its most vulnerable customers will be on the cheapest dual fuel tariff in any region of the UK. The company is extending the 15% discount on its Energy Assist product for vulnerable customers until March 31, 2008.
EDF Energy said that, for 60,000 of its most in need customers who buy both electricity and gas from the company, this means a saving of GBP137 a year compared the company’s new standard rate.
Vincent de Rivaz, chief executive of EDF Energy, said: Over recent years, our customers have benefited from our careful management which has protected them from the highest prices. That’s why we are pleased to make this new sensible move today in announcing a price cut.
EDF Energy’s announcement came immediately after British Gas revealed its second round of price cuts in seven weeks. The Centrica-owned company cut electricity rates by 6% and gas rates by 3% for all standard tariffs. EDF Energy had come under pressure from consumer groups to cut its prices as well, and the industry is now waiting to see if Iberdrola-owned ScottishPower will follow suit.
