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| Version 0 | Version 1 |
|---|---|
| British Gas cuts domestic prices | British Gas cuts domestic prices |
| (40 minutes later) | |
| British Gas has said it will reduce its gas and electricity prices next month. | British Gas has said it will reduce its gas and electricity prices next month. |
| The group says it will cut gas prices by 17% and electricity by 11%. It added that the average annual duel fuel bill will fall by £167 to £953. | The group says it will cut gas prices by 17% and electricity by 11%. It added that the average annual duel fuel bill will fall by £167 to £953. |
| British Gas's move has raised expectations that other energy companies might also cut their prices. | British Gas's move has raised expectations that other energy companies might also cut their prices. |
| The company, owned by Centrica, has been criticised for its high tariffs, which consumer groups say affect vulnerable consumers. | |
| Experts suggest the move could help the group hang onto its customers. | Experts suggest the move could help the group hang onto its customers. |
| Supplier switch | |
| More than four million people switched their electricity or gas supplier last year in a bid to cut their bills, recent figures from energy regulator Ofgem showed. | More than four million people switched their electricity or gas supplier last year in a bid to cut their bills, recent figures from energy regulator Ofgem showed. |
| If wholesale prices fall further this year then we will pass those price reductions on to our customers Sam Laidlaw, Centrica chief executive | |
| British Gas would now be offering the "lowest prices on the street" to customers, as well as introducing a new social tariff for "very vulnerable customers", Centrica chief executive Sam Laidlaw said. | |
| Centrica had announced last month that it would be cutting its prices as wholesale prices had fallen. | |
| However, Mr Laidlaw defended the company's decision not to pass on the whole of a 50% drop in wholesale prices on to customers. | |
| "We don't go and buy our gas purely on a day-to-day spot basis; we go out and have to buy our gas on a long-term basis," he told the BBC. | |
| "If wholesale prices fall further this year then we will pass those price reductions on to our customers." |