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British Gas profits rise

British Gas profits rise

Category: Gas and electricity

Updated: 31/12/2012
First Published: 26/07/2012

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 It is now over 6 months old so the content may be out of date.

Energy provider Good Energy has announced it is to cut its dual fuel fixed tariff prices by 5%.

This will be pleasing news to customers looking to save money on their energy bills, particularly as the weather appears to have once again taken a turn for the worse.

Aamir Baloch, director at independent price comparison service, said: "Hard-pressed consumers will now be demanding a chain reaction of price cuts across the board.

"Customers are crying out for cheaper bills, especially after a wet and cold spring has bumped up consumption.

"Smaller suppliers like Good Energy are often nimbler and able to cut prices quickly in reaction to changes in the wholesale market. Just last month, Ovo Energy announced a 4.5 per cent price drop in its dual fuelrate, so it's clearly a trend."

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* based on average dual fuel tariff costing £1,345 per year in Oct 2011 (Source: OFGEM) and adjustment of £23 for recent price drops.

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