Certainly not £700
Think of what you believe an electrician would reasonably deserve to get into his/her pocket (before deducting Tax/NI) for a couple of hours' work (plus time travelling), then at least double it (many people don't seem to understand about 'overheads!), and then add 20% if the person is VAT-registered.
Assuming you do that 'reasonably', it could be said that anyone asking for a lot more than the figure you come up with would, at least in your eyes, not be 'reasonable'.
Kind Regards, John