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One of the UK's largest energy suppliers, EDF Energy, has said it is to cut its gas bills by 5% from 7 February. The move follows a sharp fall in the price of wholesale gas over the winter period due to the mild weather. EDF increased its gas bills by 15.4% in November in response to rising wholesale gas prices.
The move to cut bills is the first by a major supplier and is likely to be followed by other energy companies. The company did not announce any cut to the price of its electricity bills, which rose by 4.5% in November...Read more here--: BBC News - EDF Energy to cut gas price by 5%
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The price cuts will add pressure on the rest of the major suppliers to cut their tariffs as wholesale prices dip. British Gas said the average annual domestic bill would fall by £24. "We want to keep prices as low as possible for our customers. Household budgets are stretched, and we are doing everything we can to help our customers keep their bills down," said Ian Peters of British Gas. "This price reduction means British Gas is once again offering the cheapest standard electricity, on average, of any....Read more here---: BBC News - British Gas and SSE announce price cuts
Energy company E.On is to cut its standard electricity prices by 6%, from Monday 27 February. It becomes the fifth of the big six energy companies to announce price cuts for either gas or electricity in the past few days. E.On said it too was responding to a recent dip in wholesale energy prices.
It said its cut would affect 75% of its customers and would amount to a cut of £31 in its customers' average annual bills. However, E.On's chief executive, Dr Tony Cocker, warned that prices were likely to go back up again at some point in the future. "Reductions over the last few months in the wholesale price that we pay for our customers' energy have now allowed us to help as many of our customers as possible by cutting our electricity price," he said.....Read more here--: BBC News - E.On cuts electricity price by 6%
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