The french-owned energy giant is the fourth of the ‘big six’ to raise their prices in the second half of 2012.
This year, EDF will raise prices on electricity and gas by 10.8%, after generating profits of over £1.5 billion in 2011.
The changes come into force from December 7, and will affect 4 out of every 5 of EDF’s domestic customers.
Many people question how EDF can put their prices up like this by so much when they make so much profit.
Managing Director Martin Lawrence said: “About half the bill consists of the actual electricity and gas that we purchase on customers’ behalf and here we have seen some increases, but also on the other half of the bill where we incur the costs for transporting and distributing the gas and electricity to people’s homes, these are costs that are regulated by Ofgem and are the same for all suppliers”.
E.ON have pledged not to increase household prices in 2012, and ScottishPower are yet to make an announcement.