EDF and E.ON 'may raise prices in January'

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

EDF Energy and E.ON are believed to be among several energy suppliers thinking about raising their prices in January, according to new reports.

It has been claimed that the cost of energy bills may increase by ten per cent in the coming months, with some experts speculating the hikes may come right at the start of the year.

The Times reported that energy broker Catalyst Consumer Services has estimated if they happen, the price rises may take average annual household energy bills past the £1,000 mark.

Discussing the possibility of price rises with the newspaper, the home services head of uSwitch.com, Tim Wolfenden, said: "The bottom line is, if one supplier is feeling the pressure it will pass it on to the consumer. The floodgates will open."

Growing speculation about rising energy prices has come after British Gas announced plans earlier this week to increase the price of its MarketTracker plan.

Mr Wolfenden also gave his verdict on that issue, stating that the disappointment of rising prices may hit consumers harder next year.

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