Four of the Big Six promise gas price cuts
After EDF Energy’s confirmation of their price cuts, other gas firms are soon following suit. It was only a year and a half ago that the big six pushed their prices up to a staggering 20%.
In the end, four of the big six are cutting their charges. EDF would cut their gas bills from 7 February by up to 5%. Scottish & Southern Energy (SSE) will follow with a 4.5% cut by 26 March effectively, while N Power promises a 5% cut from 1 February.
The nation’s favourite supplier, British Gas, stated they won’t reduce their gas price because they have already bought the gas in advance to supply half of the homes in Britain, but has reduced its domestic electricity by an average 5% on Thursday. Comparing utility prices online, ahead of this year’s winter, Ian Peters reassured the public that “this price reduction means British Gas is once again offering the cheapest standard electricity, on average, of any major supplier.”
They claim that with the instant change 5.3 million British Gas single rate electricity customers, on a variable tariff, will benefit from the price reduction, each saving an average of £24 on their annual electricity bill. Overall, this saves British customers more than £100 million a year.