French owned energy giant EDF have reported an 8.5% rise in
profits much to the disgust of the consumer.
They are the first of the 'big six' to announce their profits
which have hit £1.6 billion despite the milder winter and a fall in
consumption.
During a time where fuel poverty is a very real and worrying
matter, where families are struggling to pay energy bills and are
having to choose between 'heating or eating', the announcement has
hit a nerve and consumers are demanding affordable energy.
Questions are being raised as to why consumers are being 'ripped
off' with extortionate pricing and whether energy companies could
and should cut the price of gas and electricity further. The
figures from EDF, which has around 5.5 million customers, indicates
that although there is an 8% drop in fuel usage their profits have
soared.
Director of Consumer Policy at uSwitch, Ann Robinson, says "On
the back of the profits announced today, we would urge EDF Energy
to relieve the pressure on its UK household customers by passing on
the benefits of lower wholesale prices. It previously cut its gas
prices by 5% on the 7th of February and now is the time to go even
further."
Consumers await the profit announcements from the remaining
energy companies.