Npower joins utilities price war

In the latest move in the utilities price war sparked by Centrica's recent announcement relating to significant cuts on gas and electricity costs, another major fuel provider, Npower, has announced that it will also be slashing the price of fuel usage for millions of its customers. Npower has announced that six million domestic customers can look forward to a drop of sixteen percent on the cost of gas consumption, and around a three percent drop in electricity. The company claims that once this price reduction has been applied, it will be one of the most economical gas providers in Britain.

According to Npower officials the reduction in the cost of gas and electricity for its customers will be applied from 30th April this year. After making the announcement the residential managing director of Npower stated: "Today's announcement confirms Npower's commitment to offer value to our customers." However, Adam Scorer, campaigns director at independent energy watchdog Energywatch, was not happy about the company's decision to wait until April to apply the price cuts. He stated: "This promise of jam tomorrow suggests energy companies are failing to grasp that they need to provide their customers with better value if they are going to keep hold of them."

Another major player in the world of utilities, Powergen, has recently announced lower prices for new customers that plan to join up. However, official notification is still pending with regards to price cuts for its existing customers. British Gas was the first to announce significant cuts in fuel usage, with the cost of gas set to drop by seventeen percent, and the cost of electricity set to fall by eleven percent from the middle of March. Experts have stated that the price war amongst the utilities providers makes this a very good time for consumers to look into switching providers in order to get a better deal.