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| Version 3 | Version 4 |
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| 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 a standard variable domestic gas tariff. | |
| Over recent weeks, there has been a series of gas price cuts announced across the industry. | Over recent weeks, there has been a series of gas price cuts announced across the industry. |
| On Monday Npower announced a 5.2% cut, following in the wake of E.On, Scottish Power and SSE. | On Monday Npower announced a 5.2% cut, following in the wake of E.On, Scottish Power and SSE. |
| 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 | 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. | 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 said about 900,000 of its customers would also make an annual saving of £31. | EDF said about 900,000 of its customers would also make an annual saving of £31. |
| British Gas said customers on its fix and fall tariffs would also benefit from the price reduction. | |
| Beatrice Bigois, managing director of customers at EDF, said it had reduced gas bills for the second time in just over a year. | Beatrice Bigois, managing director of customers at EDF, 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." | "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. | 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." | "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. | 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. | 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." | "You could save more money, up to £300, by switching." |
| There was also criticism of the industry for failing to cut electricity tariffs, despite falling wholesale costs. | There was also criticism of the industry for failing to cut electricity tariffs, despite falling wholesale costs. |
| Energy analysts at Jefferies said: "There has still been no movement in electricity tariffs, despite a 30% fall in wholesale electricity prices since August 2014. | Energy analysts at Jefferies said: "There has still been no movement in electricity tariffs, despite a 30% fall in wholesale electricity prices since August 2014. |
| "This is likely due to increased environmental costs, which fall on electricity rather than gas, and additional network charges." | "This is likely due to increased environmental costs, which fall on electricity rather than gas, and additional network charges." |
| British Gas said it was unable to lower electricity prices due to rising costs, such as for network delivery, adding that wholesale costs only make up a third of electricity bills. | British Gas said it was unable to lower electricity prices due to rising costs, such as for network delivery, adding that wholesale costs only make up a third of electricity bills. |