EDF Energy

Ticker EDF

Today's data summary

Market open
% change
+0.97%
Price Euros
10.56
Change
+0.10
As of 15:24 21 Aug 2019
Market cap. Euros
31,770.37 million
As of 15:24 21 Aug 2019

Latest updates

Construction workers at the Hinkley Point C nuclear plant set concrete pouring record.
EDF Energy said the base of the project's first reactor had been completed.

Second supplier ready to raise prices

Kevin Peachey

Personal finance reporter

EDF logo
Reuters

EDF has become the second energy supplier to indicate plans to raise prices in April in light of regulator Ofgem's new cap.

On Thursday, Ofgem said it would allow suppliers to charge more from April to those on default tariffs owing to a rise in wholesale costs.

Yesterday, E.On confirmed it would put up its prices by 10% for 1.8 million customers in April.

Now EDF has told price comparison sites that it will match this price rise for 1.3 million existing customers on EDF's standard variable tariff.

Other suppliers are expected to follow suit.

Funding nuclear

Today Programme

BBC Radio 4

sizewell
EDF

French power company EDF is planning to build a new nuclear power plant at Sizewell,

The aim is to fund the project in different way to Hinkley Point where the government ended up agreeing to pay a minimum price for the energy.

This time the idea is to treat nuclear power like water, so, for instance, the owners get paid a rate of return on what they spend to build it.

Stephen Thomas, of the University of Greenwich, told the Today Programme that traditional problem with nuclear power is economic risk.

"The issue with nuclear power is economic risk. The record as everybody knows is they tend not to get built to time and cost. The issue is who is going to pay if and when things go wrong."