EDF Energy warns customers over 'higher than anticipated' bills

After the £1717 energy cap started on Tuesday October 1, the Ofgem price cap will change again from January 1 (New Year's Day).
-Credit: (Image: Reach Publishing Services Limited)


EDF Energy customers have been warned the energy price cap from January could be HIGHER than anticipated. After the £1717 energy cap started on Tuesday October 1, the Ofgem price cap will change again from January 1 (New Year's Day).

Cornwall Insight published its forecast for the New Year that the price cap will plummet to £1,697 for a typical gas and electricity customer. EDF is sounding the alarm that the cap may not fall as much as previously thought come January 2025.

As it stands, the energy firm's analysts are predicting £1,721 for January to March next year. David Edmonds, the head of Pricing and Valuation in Wholesale Market Services at EDF, said: "We’re still seeing a lot of volatility in the global wholesale energy markets, which means our latest forecast from yesterday has come in slightly higher than prices last week, at £1,721 for January to March 2025.

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"This is due to a couple of factors including tensions in the Middle East, as well as between Russia and Ukraine, and unpredictable weather over the coming months. Given these uncertainties, it’s not clear yet exactly where prices will go in the coming months before the window for Q1 prices closes in November."

"We’ll continue to closely monitor developments in wholesale gas and electricity markets to understand how they impact energy costs," Edmonds added. "To keep consumers informed, we are continuing to publish a weekly price cap prediction on our website.

"We encourage customers to keep an eye on predictions to help them make the best decision on their energy tariff choices, with certainty increasing as we get closer to mid-November." Currently, EDF is working with Plymouth Citizens Advice to offer customers in-depth financial support and debt advice.

On top of this, the energy supplier is offering direct financial support via EDF’s Customer Support Fund.