What's the best way to handle this situation?

I have an old client who used to do a lot of work some years ago, but since about 2009 I haven't really heard from.

Since then, I've upped my rates quite a lot, more than double what it used to be. Recently she sent me new website updates out of the blue by email, and I'd agreed to it before looking back at what I used to do this work for.

So what's the best way to handle it? I'm thinking I could either;
- Call or email today, before starting any work, and let her know that I just checked my records and found that my prices are higher so I wanted to inform her so we'd both know what to expect.
- Complete the updates at the 2009 rate, but when presenting the invoice let her know that in future it will be higher.

I'm certainly in favour of the first option, because who knows when there might be more updates for this job again. But the second option seems like it's the most fair to the client.