E.ON has announced that it will cut its electricity prices by 6%, effective from the 27th March 2012.
It means that 3.7 million of its customers will see their dual fuel bill fall by an average of £33 from £1, 293 to £1, 260.
The supplier also pledged to cancel the penalty fees on its fixed price energy tariffs for customers wishing to compare their gas and electricity to ensure they are on the cheapest deal.
Ann Robinson, Director of Consumer Policy at uSwitch, said the move was welcome after a year that saw two price rises, but still wasn't enough to combat rising energy costs.
She continued, "Cash strapped consumers have now seen five of Britain's big six energy suppliers move to cut their prices. This will alleviate some of the pressure that households are under, but with cuts coming in at around £30 compared to increases of £224 or 21% since the end of 2010, consumers may be feeling short changed.
"This will not be helped by the fact that suppliers are focussing their cuts on one fuel, while previous hikes hit both gas and electricity.
"The fact is that these cuts will not even come close to wiping out last year's eye watering price hikes and even if there is a further cut later this year are still unlikely to do so.
"Thankfully though this is something that consumers can do for themselves by shopping around for a cheaper energy deal and reducing the amount of energy they use.
"Households can save up to £420 by moving to dual fuel, paying by direct debit and signing up to a competitively priced deal - a far bigger saving than that being offered by suppliers lowering their prices."
Read the full news story on the E.ON price cut