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British Gas cuts prices by seven per cent

British Gas cuts prices by seven per cent

Category: Gas and electricity

Updated: 04/02/2010
First Published: 04/02/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

British Gas has announced that its standard gas prices will fall by an average of seven per cent from today.

The firm is the largest residential energy supplier in the UK and the reduction will benefit some eight million households.

British Gas said the cut meant the average gas customer would see a saving of £55 a year, and made the company the cheapest supplier of standard gas & electricity across Britain.

It is the third time British Gas has cut prices in the last year, slicing a total of £187 off the average annual dual fuel bill.

The firm cut the price of electricity last May, after wholesale prices dropped sharply in February. Energy providers have been criticised for not passing on wholesale reductions.

"At British Gas, we know household budgets are stretched and that our customers are concerned about the effect the recent cold weather will have on their winter fuel bills," commented Phil Bentley, managing director of British Gas.

Gas customers have also received a boost after British Gas announced it has removed the price differential for gas pre-payment meter accounts.

On average, customers with such meters will now pay the same as consumers paying by cash or cheque.

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