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Scottish and Southern cuts prices | Scottish and Southern cuts prices |
(10 minutes later) | |
Scottish and Southern Energy (SSE) has said it will cut prices for electricity and gas customers from 30 March. | |
It said average prices for electricity customers would fall by 9% and average gas bills would be trimmed by 4% - the first price cut since March 2007. | It said average prices for electricity customers would fall by 9% and average gas bills would be trimmed by 4% - the first price cut since March 2007. |
The firm also supplies energy under the brand names Southern Electric, Swalec, Scottish Hydro Electric and Atlantic. | The firm also supplies energy under the brand names Southern Electric, Swalec, Scottish Hydro Electric and Atlantic. |
The announcement followed the decision by British Gas to cut gas bills by 10% from 19 February. | The announcement followed the decision by British Gas to cut gas bills by 10% from 19 February. |
"Dual fuel" customers would see an average annual saving of £66, the company said. | "Dual fuel" customers would see an average annual saving of £66, the company said. |
SSE said that the falls in energy prices on wholesale markets had been maintained, allowing it to deliver a price cut. | |
However, the firm warned that prices remain at relatively high levels. | |
Electricity and gas prices are still 46% and 51% higher than two years ago, it said. | |
"The UK now relies on energy imports and wholesale prices for electricity and gas are still at historically high levels," said Alistair Phillips-Davies, SSE's energy supply director. | |
At the end of last year the "big six" energy companies were urged by the government to pass on lower wholesale gas prices. |