EDF is making a 'loss', and we're supposed to boo hoo

14 February 2013

EDF have cried at everyone, saying that they're selling gas and electricity to households and businesses at a loss, even though they've stuck the price up of everyone's bills.

And you know how they made a 25% leap in their annual UK profits? Price rises (an average of a 10.8% hike) for us are apparently nothing to do with it. And the small matter that Ofgem declared EDF as the most complained-about of the Big Six at the end of 2012 is not their fault, honest.

A spokeswoman said: "We recognise that last year our customer service levels were not up to the high standard we expect and our customers deserve."

"However, we're pleased to report our service levels have improved significantly over the last six months and our new systems are delivering clear benefits to our customers through clearer, more accurate bills and the introduction of better online services."

Commenting on the financial results, chief executive Vincent de Rivaz said: "Our financial performance last year enabled us to make significant investments in both our existing power stations and our plans for new nuclear stations in the UK, which will help keep the lights on in future with reliable, secure and low carbon energy."

More accurate, but increasingly expensive bills for all!

TOPICS:   Utilities


  • rich
    Maybe that explains why they've bumped up my monthly payment by more than £100! They need to invest in better calculators.
  • Yue
    It amazes me how the privatization view is that we get a better deal with competition. Has anyone bettered nationalised prices? Cheap fuel costs are a huge boost to the economy and tha money is all going to private hands and washed offshore. The UK is becoming a depressing place to live.
  • Yue
    Privatisation. Fucking Mozilla spell check.
  • truetrader
    Energy companies always explain that price rises are due to planned investment? My business invests using the profit made the previous year, not by raising prices across the board. It's not just energy companies, its the same for telecoms and other big businesses that deal in necessities and services.
  • Fat H.
    Energy companies are nothing more than a bunch of fucking thieving scumbags. If the consumer has to pay for investment then why the fuck don't we own what we are investing in?
  • Supasumo
    I rarely weigh in on these debates, but since no one seems to have a clue what they're talking about here I feel I probably should. Electricity prices fell in real terms year on year during privatisation, until around 2003 where changes began to take place to reinforce areas of our transmission and distribution grids which are quickly heading toward the end of their life span. The rises in prices now are largely due to legislation about clean generation, wind power is expensive. It has an incredibly low MW per £ value in real terms, and it is expensive to integrate into the network. Nuclear is also and incredibly expensive investment, and the way in which power is 'bid' means it is also worth less per unit than that produced by (decreasingly) coal and (increasingly) gas due to nuclear being difficult to vary. I don't wish to defend them too much, but they will make as much money as they are allowed to, and under a competitive market we are in a much MUCH stronger position as consumers. Your blame has to fall on the government and ofgem. 'Green' power is expensive, generating companies are forced into it and they will pull that money back from somewhere. Somewhere being us. In case your in any doubt, I work in the power industry.
  • Mr M.
    @ truetrader Nail hit firmly on the head
  • Fat H.
    @Supasumo I feel so much better in the knowledge that I'm in a stronger position than an energy giant.
  • Steve
    @Supasumo Fat Harry is being sarcastic. Just thought I'd point that out to you, as your contribution to this debate suggests you may well miss the point every now-and-again.
  • mabes1
    thing s were better when they were british enegry even state owned. ElectrityDe France is charging bRITS more per KWh than their French customers. We are paying more to subsidise the low french price Had enough of the stinky garlic breath surrender monkeys. Change to British Gas (still a bunch w@@kers) but at least its British EVEN BETTER GENERATE YOUR OWN
  • Mike O.
    @Supasumo A great argument, until as has just happened above this article, the [email protected] announce yet more billion pound profits. Charlatans the lot of them. Use those profits for investments you [email protected] and then FOAD

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