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| Npower will cut gas bills by 7% | Npower will cut gas bills by 7% |
| (31 minutes later) | |
| Energy company Npower is to cut domestic gas bills by 7% from 26 March, following price cuts by other suppliers. | Energy company Npower is to cut domestic gas bills by 7% from 26 March, following price cuts by other suppliers. |
| The company has become the fourth of the "big six" energy suppliers to announce a reduction in prices. | |
| Customers will see an average fall of £50 on their annual bill as a result of the change, the company said. | Customers will see an average fall of £50 on their annual bill as a result of the change, the company said. |
| Wholesale gas prices have fallen over the last year, prompting the latest flurry of cuts in domestic bills. | Wholesale gas prices have fallen over the last year, prompting the latest flurry of cuts in domestic bills. |
| "We always aim to offer competitive prices to our customers and we have lowered our gas prices although our profits halved in 2009," said Kevin Miles, chief executive of Npower Retail. | |
| Changes | |
| The company is also making changes to its discount structure for those customers who pay by direct debit. After 12 months using the payment system, the discount would double to £40, Npower said. | |
| The announcement came after British Gas dropped its gas prices by an average of 7% at the start of February. | |
| This was followed by Scottish and Southern Energy, which will cut its standard household gas prices by an average 4% at the end of March. | |
| On Monday, E.On said it would reduce its prices by 6% for domestic customers, also at the end of March. | |
| Among the "big six" suppliers, only EDF Energy and Scottish Power have yet to make any announcement about gas prices. | |
| Gas providers have come under pressure to cut bills after prices that they pay on the wholesale markets fell recently. |