EDF's announcement that it will be cutting its electricity prices by up to £62 for some customers has been labelled 'disappointing.'
Gareth Kloet, head of utilities at Confused.com, says EDF's pledge to reduce its electricity prices by up to 12.5 per cent, with an average cut of 8.8 per cent, follows both Scottish & Southern Energy and E.ON as simply another small gesture.
"While EDF has reduced the price of its Annual Fix tariff, this is yet more evidence of energy companies making small gestures, when it comes to alleviating pressure on their customers, rather than opting for wide-ranging reform which could benefit millions," he said.
EDF announced on Friday that from March 31, its standard rate electricity customers will see their bills cut by 8.8 per cent on average – up to12.5 per cent for some - claiming that the cut will mean EDF Energy is cheaper than British Gas' dual fuel
"in every region and for all payment methods".EDF energy
spokesman Eva Eisenschimmel, said: "In this time of extremely volatile energy markets, EDF Energy continues to ensure very competitive prices for our customers. In 2008, we passed on the lowest gas price rises of any of the major utility suppliers.
"We were also able to ensure the lowest overall dual fuel increases last year with customers seeing savings of up to £75 compared to British Gas customers. Today’s announcement confirms our ongoing commitment to providing our customers with more competitive prices during these difficult economic times."
But Mr Kloet says its not enough, and that despite the cuts, EDF customers and in fact all energy customers, should be comparing rates and switching if they find a better deal, whether their supplier has promised cuts to their energy bills
"Unfortunately, it is evident that the remaining energy companies, which have not already made changes to their retail prices, are in no hurry to do so."
He said customers should switch to a better tariff or switch energy provider
, "as soon as possible, by shopping around for the best deals on the market."
"It will not benefit consumers to hang around in the hope that their supplier will drop the price of the tariff that they are on," he said.
"As long as customers choose tariffs which will not penalise them with exit penalties, there is no reason why they cannot switch now and then switch again once all of the ‘big six' energy companies have shown their hands."
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