UK energy suppliers raise prices again
EDF will become the latest utility company to raise energy prices to UK households as they look to hike prices by 2.7% for electricity. Dual fuel customers will see an average rise of 1.4% on their total bills.
The move follows British gas announcing prices of 5.5% a couple of days ago.
EDF changed electric prices twice last year with an 8.4% and 9.0% hikes.
BOE’s Mark Carney better have stocked up on stationery for all the letters he’s going to have to write to the Chancellor about why inflation is well above target. As we well know, hiking the bank rate will do nothing to curb this type of inflation and will only add to the squeeze on households.