Reduced energy prices bring New Year cheer for consumers
25th January 2012
EDF energy has announced plans to slash their gas prices by 5%, starting from next month.
The leading energy company is the second provider to have announced a dip in rates this month, following a move by Ovo who also announced a 5% cut.
The wholesale cost of gas has fallen by 9.2% since November last year, allowing EDF to reduce its rates, providing much needed financial relief for UK consumers.
EDF increased its gas bills by 15.4% in November, adding winter misery to already high household bills. Last year, all six of the leading energy companies increased their prices for gas and electricity by an average of 20%.
The newly reduced rate will come into effect from 7th February 2012, slashing £38 off the average household gas bill.
According to price comparison website uSwitch, the move will reduce the average for a dual fuel bill from £1,241 to £1,203.
This reduction is the first of its kind from a major supplier since prices have begun to rise steadily over the last few years.
However, smaller supplier Ovo has also announced a price cut recently. The energy firm has cut 5% off its dual fuel fixed tariff for new and existing customers. This has come into immediate effect and the reduced rate started on 6th January.
EDF did not announce any cuts to their electricity prices, which it increased by 4.4% in November.
Whilst this reduction is a positive step towards reduced household bills generally, many are still feeling the pinch as utility prices are still relatively high.
If you are looking to switch your energy supplier for a cheaper deal, you could use the ASDA Energy switch & Save tool today.
- Switching energy suppliers - what is the next step?
- How much energy do you waste using a kettle?
- UK energy firms slash prices across the board
- Reduced energy prices bring New Year cheer for consumers
- Big Energy Week encourages households to switch suppliers
- UK faces winter fuel bill crisis
- Five ways to smarten up a room for winter
- Wartime money savers we can use today
- 3 ways to cut the cost of Christmas
- 5 Ways To Get Ready For Winter
- Ofgem steps up energy firms probe
- Npower set to raise energy bills
- E.ON announces fuel price hikes
- Domestic energy use up since 1970
- Scottish and Southern hike energy prices
- News Archive
