This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-35547391
The article has changed 8 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
British Gas and EDF cut gas prices | 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 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 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. | British Gas's price change takes effect on 16 March, while EDF's kicks in eight days later. |
The moves benefit customers on standard domestic gas tariffs, not fixed deals. | |
Over recent weeks, there has been a series of gas price cuts announced across the industry. | |
The dates of the changes are likely to bring renewed criticism that prices are cut only towards the end of the coldest months. | The dates of the changes are likely to bring renewed criticism that prices are cut only towards the end of the coldest months. |
Shop around | |
British Gas, which is owned by Centrica, said 6.8 million of its customers on dual fuel deals would see an average annual saving of £31 due to the 5.1% cut. | |
EDF Energy said about 900,000 of its customers would also make an annual saving of £31. | |
Beatrice Bigois, managing director of customers at EDF Energy, said it had reduced gas bills for the second time in just over a year. | |
"Our prices are under constant review and today's announcement reflects falls in wholesale gas costs." | |
Centrica's Mark Hodges, chief executive of its energy supply and services in UK and Ireland, said it was the only major supplier to cut prices twice last year. | |
"Competitive pricing is the way to retain existing customers and win new business in this hard-fought market." | |
Some commentators warn that these types of "standard" tariffs are among the most expensive, so there is still benefit in shopping around. | |
Rachel Fletcher, Ofgem's senior partner for consumers and competition, said: "These price cuts are a movement in the right direction for loyal customers, but they are dwarfed by the savings available by switching from a standard tariff to a fixed deal. | |
"You could save more money, up to £300, by switching." |