Yesterday’s news that EDF was to cut gas prices by five per cent came as welcome news to customers who’d grown accustomed to increase after increase in 2011.
Now, the company’s ‘big six’ energy rivals Scottish and Southern and British Gas have followed the French company’s lead and announced cuts to their tariffs.
British gas has knocked five per cent off the price of its electricity with immediate effect, while SSE will slash 3.8 per cent off gas as of March. British Gas claims that the reduction will reduce the average annual domestic bill by £24, while SSE’s redocutions could save their customers £28 a year.
Director of policy and external affairs at Consumer Focus, Adam Scorer, said: “Consumers will be pleased that British Gas has announced a price cut so hot on the heels of EDF Energy's reductions. With two of the Big Six announcing price cuts in as many days the heat is now on for others to follow suit and help ease the pressure of high energy bills for their customers.
"It's good to see cuts being made to both gas and electricity prices, even if by different firms,” he continued. “The widening gap between wholesale and retail prices has become the fault line for consumer confidence. Companies want to regain the trust of their customers. Narrowing this gap is a necessary part of achieving this. he other four major suppliers should act now if they want to be seen as committed to an effective competitive market.”