Wednesday 7 June 2023

EDF supports 15,000 small businesses hit by energy crisis

EDF supports 15,000 small businesses hit by energy crisis

EDF has launched a new initiative to assist small and medium business customers who were severely affected by fixed contracts during the peak of the energy crisis.

More than 15,000 eligible customers, including independent shops, hairdressers and small factories, will be contacted to offer new contracts with longer durations and lower prices, aiming to alleviate current financial burdens, the company has confirmed.

As EDF witnessed a 25% increase in struggling SME business customers reaching out for help compared to the previous year, the company plans to nearly double the number of advisors dedicated to assisting customers.

These businesses were identified as particularly vulnerable due to both high fixed prices and high energy consumption.

During the period when global wholesale energy prices escalated, fixed contract prices rose and EDF purchased energy at these elevated rates to fulfil the contracts.

Although wholesale market prices have since eased and fixed product prices have decreased, both EDF and the businesses locked into contracts last winter are still bound to the higher prices.

While the Energy Bill Relief Scheme provided government support during the winter, it ended in March and the new Energy Bill Discount Scheme offers a lower level of assistance.

Philippe Commaret, Managing Director of Customers at EDF, acknowledged that although they cannot revise all contracts, they are committed to helping businesses that were disproportionately affected.

Written by

Bruna Pinhoni

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