EDF piles the pain on punters while piling up its profits. #profiteering #ripoffbritain
EDF energy announced a second round of price rises for 2017 and the reversal of a cut in gas prices. Energy prices will rise again in June by 7.8% bringing the total rise in dual fuel tariff to 9% for 2017 so far.
2016 EDF Operating Profit €7.5 Billion – Nett Profit €2.8 Billion
2015 EDF Operating Profit € 4.2 Billion – Nett Profit €1.2 Billion
2014 EDF Operating Profit €7.9 Billion – Nett Profit €3.7 Billion
2013 EDF Operating Profit €8.4 Billion – Nett Profit €3.7 Billion
2012 EDF Operating Profit €8.2 Billion – Nett Profit €3.5 Billion
The table above shows #EDF have made some €15 Billion nett profits over the last 5 years. These are profits after reinvestment of an average €13 Billion per year for each of the five years and of course after paying shareholders their dividend.
For consumers this latest rise is painful and heaped on top of a rise in January it’s even more painful.
The energy market is simply not working in the UK and consumers with little or no opportunity of generating sufficient additional income to cover these increases simply have to cut back elsewhere or do without energy.