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| EDF to cut gas bills but raise electricity prices | EDF to cut gas bills but raise electricity prices |
| (35 minutes later) | |
| EDF Energy plans to cut gas prices from January but will increase the cost of electricity in March. | EDF Energy plans to cut gas prices from January but will increase the cost of electricity in March. |
| It will reduce variable gas prices by 5.2% on 6 January, then will raise electricity bills by 8.4% on 1 March. | It will reduce variable gas prices by 5.2% on 6 January, then will raise electricity bills by 8.4% on 1 March. |
| After both changes, EDF's dual fuel customers will pay 1.2% more a year, taking their energy costs to £1,082. | After both changes, EDF's dual fuel customers will pay 1.2% more a year, taking their energy costs to £1,082. |
| The company last raised the cost of electricity three years ago but said that it "has been rising for some time". | The company last raised the cost of electricity three years ago but said that it "has been rising for some time". |
| Around one million of EDF's customers will lose out when the company introduces the electricity rise in March. However, 700,000 consumers will gain from the gas price cuts in January. | |
| EDF is the first of Britain's "big six" energy suppliers to announce price increases for next year. SSE and British Gas both said recently that they would freeze prices for customers on standard tariffs until March and April respectively. | |
| EDF said it "it is right" that energy bills should reflect changes in wholesale prices. | |
| Both the prime minister Theresa May and the chancellor Philip Hammond have identified retail energy as a key market they wish to examine to make sure consumers are getting a fair deal. | |
| At the Conservative Party conference in October Mrs May told delegates that the government would be prepared to intervene to help people. | |
| She said: "Where companies are exploiting the failures of the market in which they operate, where consumer choice is inhibited by deliberately complex pricing structures, we must set the market right." |