EDF….profits above the people…

Regulated gas prices went up by 12.6% in October last year and have been frozen until April. But a rise in electricity prices, planned for next month, has been limited to just 4%. This is what EDF are allowed to charge the people in France.

The information below is what they are going to charge the people of the United Kingdom.

  • Customers on EDF’s standard variable tariff paying by direct debit will see their dual-fuel bill increase by 54% to £1,971. 

Their reasons for this are listed below!!!

  • Wholesale prices, which increased by 500% over the past year, make-up around 40% of an energy bill, and this is impacting all energy suppliers, with around 30 suppliers collapsing in the past year. ….

For those struggling and there are a lot of people struggling so take note EDF…

  • For customers that may need additional support, we’ve been working hard to invest in additional measures to assist customers. Our dedicated Customer Support Fund provided support totalling £2.1million during 2021, and of the customers helped with energy debt 83% of them remained debt free after at least six months. We also offer other measures such as the Warm Home Discount Scheme, our Priority Services Team, and the continued rollout of smart meters and energy efficiency measures to help customers reduce their energy usage. More information on our Customer Support Fund and our partnerships with Citizens Advice and Income Max is on our website https://www.edfenergy.com/for-home/help-support/personalised-support-services.

So they can’t increase the electricity bill for the French by much, but they can for the people of the United Kingdom. This is wrong on every level and it is about time the Government took back control of the utility companies otherwise people aka voters will be in serious debt otherwise, although I don’t think this Government cares to be honest.

EDF Energy reported a profit of 106 million British pounds from its energy generation business in Great Britain in 2020, and ……..

2021 Financial Results
Sales €84.5bn +21.6% org.( 1)
EBITDA €18.0bn +11.3% org.(1)
Net income excluding non-recurring items (2)
€4.7bn x2.4
Net income – Group share €5.1bn ~ x8
Net debt/EBITDA 2.4x
Dividend per share €0.58 (3)
2021 Highlights
2021 Achievements
All financial targets achieved
Strong EBITDA growth vs. 2020 and 2019
Disposal and cost savings plans achieved one year ahead of schedule.

Guess, with only a 4% rise from France EDF had to find money from somewhere and what better way than the British people even to the point of some people not being able to pay….after all its only the little people who will suffer from the cold or even hyperthermia for the young or old, and its not like the Government will step in and somehow I think utility companies know this.

Analysis of E.On, EDF and Scottish Power’s most recent accounts showed they paid their top brass £4.65m between them. https://www.mirror.co.uk/news/uk-news/fat-cat-energy-firm-bosses-26150379 dated 5th Feb 2022

Published by pointsofsue

A place where my points of view are for all to read. Email all enquiries to: pointsofsue@gmail.com

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