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British Gas and EDF cut gas prices | |
(35 minutes later) | |
British Gas and EDF Energy have announced they are cutting their gas prices, the last of the big six energy suppliers to do so. | |
British Gas unveiled a 5.1% price reduction, followed swiftly by EDF's announcement of a 5% cut. | |
British Gas's price change takes effect on 16 March, while EDF's kicks in eight days later. | |
The moves follow a series of reductions in gas prices announced across the industry in recent weeks. | |
The dates of the changes are likely to bring renewed criticism that prices are cut only towards the end of the coldest months. | |
The chief executive of energy supply and services for British Gas in UK and Ireland, Mark Hodges, said it was the only major supplier to cut prices twice last year. | |
"Taken together, our three price reductions will bring the average household's annual energy bill down by almost £100." |