EDF Energy last of the big six to hike prices

EDF customers (including those on social tariffs or with prepayment meters) will see their bills go up by an average of 4.5% for electricity and 15.4% for gas on 10 November.

Key Points

• EDF hikes prices 15.4% on gas and 4.5% on electricity

• Last of the big six to hike prices

• EDF says average bill will be up £120

EDF says the changes will add approximately £120 to the average dual fuel bill.

Some of its online Saver tariffs will not however be affected by the price rise.

Scottish Power was the first of the big six to announce price hikes a few months ago in June, with the remaining providers following suit across the summer.

Scottish Power, British Gas, Eon and Scottish and Southern Energy price rises have already come into force, while Npower hikes will become effective from 1 October.

EDF's average hikes are the smallest of all the big six providers, but it will still be a massive blow for EDF's 3.2 million residential customers.

EDF, like its rivals, blames rising wholesale prices (what suppliers pay for energy) as the reason for upping consumer prices this autumn.

Escape lock-ins

EDF customers who'd benefit from switching can escape fee-free from variable tariffs that appear to lock them in.

Many gas and electricity deals come with an exit fee of up to £100 (though typically around £60) for those who leave before the term of the deal ends.

But where a supplier puts prices up, because that results in a contract change that's detrimental, rules from regulator Ofgem mean many consumers don't need to pay that penalty as long as they inform their power firm they wish to switch before the increase.

EDF confirms if you contact it before the price hike on 10 November to say you wish to leave, you'll escape a penalty, although it will need to receive a note of acceptance from your new supplier within 15 working days.

The amnesty does not apply to those on a fixed rate deal because the price of their tariff will not rise, due to the nature of the product.