npower have announced a price cut of 5.1%, effective 16 February 2015
THe npower price cut will only affect customers currently on a standard-rate, dual fuel plan. These customers will see a savings of £35 per year on average.
As with all other big six suppliers that announced price drops in early 2015, npower cited the falling wholesale gas prices as the reason for the price cut.
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To read more about this supplier, including full price history, customer satisfaction scores and where their average bill cost ranks among other gas and electricity suppliers, view uSwitch's npower supplier page.
What uSwitch said about npower's price change
Ann Robinson, Director of Consumer Policy at uSwitch said of the npower change:
“This might be the fourth price cut from the big six suppliers but standard tariff consumers are still not getting a fair deal this winter. With wholesale gas prices falling for months on end, the price cuts so far seem token gestures. And, with wholesale electricity costs down too, it’s also high time for reductions on standard electricity tariffs.
“The price cuts so far are a small step in the right direction but hard-pressed consumers deserve more to help deal with sky-high energy bills. In the meantime, customers can give themselves their own price cut by moving away from expensive standard tariffs to more competitive new deals, which could be £330 a year cheaper.”
What should I do about the npower price change?
Unless you are on npower's standard plan, and are receiving both gas and electricity from the supplier, you will not see a change in your energy costs.
If you are on this npower plan, your savings will be roughly around £35 per year. However, standard plans are often suppliers' most expensive plans on offer, and you are likely overpaying by hundreds.
Instead of waiting to see the savings on an arbitrary price cut, run an impartial energy comparison to check how much you could save by switching.