British Gas today announced it is to reduce household gas prices by an average of 5% from 27th August 2015. Commenting on the news, Ann Robinson, Director of Consumer Policy at Uswitch.com said: “This is a bold move by British Gas which could spark a major price war between suppliers.
“Although these price cuts are to be welcomed, the average British Gas dual fuel standard tariff customer will see their annual bill cut by less than 3%. Wholesale energy costs, which make up around half of bills, are at their lowest levels in five years and so reductions can and should be in double-digits. Also, why are we yet to see a single cut from the big suppliers for standard electricity customers?
“Just last week the Competition and Markets Authority concluded that millions of us have been paying too much for our energy bills. The fact remains that a whopping 70% of customers languish on expensive, standard variable tariffs. There is currently over £360 a year difference between the average big six standard plan and the cheapest deal on the market, so many consumers would be better off making their own price cut by switching.”
FOR MORE INFORMATION
Jason Wakeford
Phone: 0203 872 5612
Email: jason.wakeford@uswitch.com
Twitter: @UswitchPR
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