Further energy firm makes price cuts - Gas and electricity - News - Moneyfacts

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Further energy firm makes price cuts

Further energy firm makes price cuts

Category: Gas and electricity

Updated: 05/03/2010
First Published: 05/03/2010

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Millions of energy customers in the UK are set to benefit from reduced bills after Scottish and Southern Energy (SSE) announced it is to cut its prices.

The annual household bill will fall by four per cent from the end of March, representing an average yearly saving of £30.

The cut will work by raising the fixed price of the first tranche of gas used from £53 to £98, after which customers will pay less for any gas used.

Energy firms have recently come under fire for not passing on reductions in wholesale prices.

The decrease follows British Gas' decision to cut standard gas prices by an average of seven per cent last month. It is hoped that other companies will follow suit in the coming months.

SSE supplies gas to 3.5 million customers across the UK, and nearly ten million with gas or electricity, or a combined service.

Duel fuel customers with SSE can expect an average annual bill of £1,162 once the cuts are implemented, said SSE, although the exact price will depend on location.

"Energy supply is still a challenging business, with significant upward price pressures which run counter to reductions in wholesale prices," said Alistair Phillips-Davies, energy supply director of SSE.

The company supplies energy under Southern Electric, SKLEC, Scottish Hydro and Atlantic.

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