Further energy firm makes price cuts - Gas and electricity - News | moneyfacts.co.uk


Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

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

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 It is now over 6 months old so the content may be out of date.

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.

Compare gas & electrcity suppliers

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.