Switchomatic UK energy news

Benefits of switching gas and electricity suppliers

EDF hikes gas prices by 15%, and customers are looking elsewhere

EDF Energy has announced it too will be raising its prices. EDF gas prices will be raised by 15% and EDF electricity prices by 4.5% on the 10th November 2011. This means that EDF is the last of the "big six" energy suppliers to announce large price increases for domestic energy supplies.

The annual cost of a standard dual-fuel bill paid by Direct Debit would rise to £1,165 from £1,051, said EDF. Still, many customers will baulk at these rises and many are struggling to manage their gas and electricity bills anyway, so this move will still likely lead to yet more households falling in to "fuel poverty".

OFGEM investigates high gas and electricity prices

The energy regulator, OFGEM, is investigating the need for these high gas and electricity prices. EDF, as well as the rest of the "big six" have all declared that they have been absorbing the cost of rising wholesale prices and investing in their infrastructure before being forced to pass the additional cost on to domestic customers.

However, OFGEM is not convinced this is strictly true, and is stepping up its investigation in to the financial affairs of the energy companies. It has contracted forensic accountants BDO to investigate whether the energy firms have been playing down their retail profits in order to justify higher prices. It may transpire that a Competition Commission inquiry is necessary in order to improve transparency and build trust within the energy industry.

High gas and electricity prices fuel UK inflation

The series of recent price rises from the big energy suppliers is a major factor in the high level of inflation in the UK. Households spent a significant proportion of their income on their gas and electricity bills. Inflation rose from 4.4% to 4.5% in the Consumer Prices Index, with the Retail Prices Index showing a rise from 5% to 5.2%. The government's target for inflation is 2%, and evidently these announcements to increases in the price of gas and electricity is not helping.

Get the best gas and electricity deals with Switchomatic

You are almost certainly paying too much for your gas and electricity. Search for the best gas and electricity prices with Switchomatic and you will be amazed at how much you can save on your energy bills.


To do a utilities comparison, simply enter your postcode in the field on the left of the page and start the energy comparison process. It only takes a few minutes and could save you a lot of money. Being on the best gas and electricity deal is easy so there's no reason to delay!

Created: 19th Sep 2011, Last Modified: 7th Dec 2018, Switchomatic

Back to the list

Compare gas or electricity tariffs and see what you could save

Compare the cheapest gas and electricity!

How to save money on energy bills

Compare gas and electricity tariffs using the 100% impartial utility price comparison site - Switchomatic.

Compare utility rates

Switch suppliers for gas and electricity to profit from the cheapest utility bills. In less than 5 minutes.

Switch suppliers now!

Save money on energy bills quickly and easily. Once you request the supplier switch you don't need to do anything else!

Save money on energy