British Gas set to cut prices by 5% in February

19th January 2015

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British Gas has announced it is cut its prices by an average of 5% at the end of next month but bill-payers are still likely to find cheaper deals elsewhere.

The UK’s largest domestic energy supplier, is the second of the country’s ‘big six’ energy firms, after E.on, to slash bills since wholesale costs plummeted by 20%.

Effective 27 February, this gas only cut will see the typical bill fall by 5%, or just £37 a year for a customer paying monthly by direct debit.

Ian Peters, interim managing director of British Gas, said: “We know customers expect competitive pricing and good value from British Gas and we continue to keep our prices under constant review. We have a range of competitively priced products, fixed and variable, to suit customers’ needs and preferences. “

“We’ll also continue to lead in the development of innovative products and technologies to put customers in control of their energy usage and help them keep their energy bills as low as possible.”

But comparison site, MoneySuperMarket has claimed that customers can still save themselves up to £255 by switching to a cheaper provider.

Stephen Murray, energy expert at the comparison site said: “A cut in energy prices is always welcome however, just like we saw with E.ON, this decrease is small in comparison to the whopping 20% drop in the price of wholesale gas over the last 12 months.

“But the most important message for consumers is a simple one: don’t rest on your laurels waiting for a price cut from your energy supplier – do it yourself for an even bigger saving. An average monthly direct debit customer can benefit from savings of up to £255 by switching to Extra Energy’s Fresh Fixed Price Jan 2016 v8.1.”

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