Energy bill reduction from another major supplier

A third UK energy supplier has now announced price cuts to its energy prices, enabling its customers to escape the crippling costs of energy usage, which they have had to get used to over the last year. British Gas was the first to announce price cuts for the use of gas and electricity, with prices due to come down in March. Following the announcement by British Gas, major competitor NPower also announced cuts for its gas and electricity customers. And as expected, another major supplier, Powergen, has now announced that it will be slashing gas and electricity prices for customers.

All of the price cuts by these UK energy suppliers have been announced during the course of this February. The price cuts being applied by Powergen are due to commence from the end of April. There will be a sixteen percent reduction in the cost of gas with Powergen and a five percent cut in the cost of electricity through this supplier. Around six million customers are expected to benefit from the price cuts from Powergen, and those on Dual Fuel can enjoy average savings of around ninety two pounds per household.

The announcement of price cuts from these major energy suppliers comes after the cost of wholesale gas fell by fifty percent over the past six months. Scottish Power is now expected to follow suit. The Managing Director of Powergen stated: "We've been very aware of the concerns of our customers over rising energy costs in recent years and now the wholesale market appears more stable, we're pleased to be able to reduce our prices."
However, an Energywatch spokesperson stated: "Three of the Big Six have now announced price reductions and the others must follow. As prices come down we are concerned that consumers looking to switch for a better deal may be in for a confusing time with new products and complex terms and conditions emerging as companies jockey for position."