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British Gas electricity price cut British Gas electricity price cut
(10 minutes later)
British Gas has cut its electricity prices by 10% - the last of the major suppliers to do so.British Gas has cut its electricity prices by 10% - the last of the major suppliers to do so.
The cut, which will come in with immediate effect, will save 4.5 million customers an average of £43 a year.The cut, which will come in with immediate effect, will save 4.5 million customers an average of £43 a year.
The company cut its gas prices, also by 10%, on 19 February this year, benefitting more than seven million households, it said.The company cut its gas prices, also by 10%, on 19 February this year, benefitting more than seven million households, it said.
The two price cuts will together save UK households an average £132 on their gas and electricity bills.The two price cuts will together save UK households an average £132 on their gas and electricity bills.
All British Gas electricity customers on standard tariffs - including those with pre-payment meters - will benefit from the price cut. British Gas actually raised electricity prices twice last year, by a total of 26%.
All its electricity customers on standard tariffs - including those with pre-payment meters - will benefit from the 10% price cut.
The cut was made possible by a fall in the cost of wholesale electricity.The cut was made possible by a fall in the cost of wholesale electricity.