Take advantage of the utilities price war

Recent announcements by Centrica, the parent company of British Gas, have seen a price war break out between the various utilities providers in the UK, and this means that UK consumers can at long last start to benefit from lower prices on their gas and electricity bills. Last year saw the cost of fuel for UK consumers rocket, with many struggling to meet their bill repayments, and many hitting what has become known as fuel poverty, where they were unable to afford to properly heat their homes due to the extortionate cost of fuel.

However, a couple of weeks ago, the owner of British Gas, Centrica, announced that as of mid-March this year many consumers would see a noticeable drop in their fuel consumption costs, with prices set to drop by seventeen percent for gas consumption and eleven percent for electricity. This has, as expected, seen other major gas and electricity providers start the ball rolling on reductions for energy consumption, giving the consumer the advantage of being able to shop around and find the best price on fuel, with a number of major companies vying for custom.

In line with the drop in prices applied by British Gas, the average household that is on dual fuel with British Gas could see a saving of nearly one hundred and seventy pounds per year on the cost of gas and electricity. The Chief Executive of Centrica stated: "The billions of pounds we have committed to gas contracts underpinned the construction of new undersea pipelines that are now delivering additional gas supplies to the UK. These new supplies of gas have directly led to the fall in wholesale prices which we can now pass on to our customers. Our price cut still enables British Gas to make a sustainable margin in 2007 and allows for further investments in the future."