Another price cut from British Gas
For the second time this year the energy giant British Gas has cut the cost of its energy prices, sparking yet another price war amongst energy suppliers in the UK. The reduction on the price of gas and electricity applied by British Gas means that the average household could see the cost of their energy bills drop by over two hundred pounds a year, falling from an average of £1120 to an average of around £913 per year.
Other energy suppliers in the UK are now feeling the pressure to follow in the footsteps of the energy giant, which means that many consumers who are with other energy companies may also see the price of their energy bills falling in months to come. The reductions that British Gas has put into place on its energy prices equates to a 3% cut in electricity and a 6% cut in gas prices. The new pricing will take effect immediately according to British Gas Officials.
British Gas had already slashed gas and electricity prices a month ago, reducing electricity usage costs by 11% and gas usage prices by 17%. These additional reductions mean that in total the reduction in electricity usage costs from British Gas this year will come to 14% and the reduction in gas usage prices will add up to 23%. This could mean huge savings for some households.
According to Phil Bentley, the Managing Director of British Gas: "We want British Gas to offer the best value around. We've taken the lead on lower prices and we are committed to restoring our customer service to an industry leading level. 'That's why we've added an extra 800 people to our call centres, scrapped plans for the £5 late payment charge, and why we are reducing our prices again - and doing it immediately. Our two price cuts within the space of seven weeks will mean annual savings of £207 for our customers - while some of our competitors have failed to cut prices even once. "
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