British Gas and EDF have become the final two “Big Six” suppliers to make cuts to their standard gas rates. Both companies will be applying a 5.1% cut to their standard domestic gas rates, resulting in a 3% reduction in the average dual-fuel bill.
The cuts work out at around £31 off an annual bill, but only apply if a customer is on a standard variable plan.
British Gas’ cut comes into effect from 16th March, and EDF’s will start to affect bills from 24th March.
This latest announcement makes British Gas the only major provider to cut gas prices three times since the start of last year.
Details of the recent round of cuts
| Supplier | Cut | Effective from |
|
E.ON |
Gas — 5.1% |
01/02/2016 |
|
EDF Energy |
Gas — 5% |
24/03/2016 |
|
British Gas |
Gas — 5.1% |
16/03/2016 |
|
ScottishPower |
Gas — 5.4% |
15/03/2016 |
|
npower |
Gas — 5.2% |
28/03/2016 |
|
SSE |
Gas — 5.3% |
29/03/2016 |
Still no cuts to electricity
Last year, wholesale electricity costs dropped by a huge 23%. Despite this, customers on Big Six standard plans have not seen this reduction in price on their own bills.
uSwitch.com Director of Consumer Policy, Ann Robinson, says: “By being the first big six supplier to make three cuts to standard gas prices, British Gas is again leading by example.
“But while these reductions are welcome, they should go even further. Wholesale electricity prices fell 23% last year so it’s deeply disappointing that all the major suppliers are still refusing to reduce standard electric tariffs.
“Many British homes are electricity only and desperately need more help to keep warm this winter.
“In the meantime, standard tariff customers should make their own price cut by switching to a cheaper fixed deal to save an average of £325 a year.”