Second member of Big Six energy suppliers to announce price cut.
British Gas has become the second of the Big Six energy suppliers to announce a cut in its gas prices.
British Gas is to reduce its household gas prices by an average of 5%. That will equate to a £37 average fall in annual energy bills.
The cut applies to customers on the Standard and Fix & Fall tariffs, but not other fixed tariffs, and comes into effect from 27th February. The energy giant said that recent falls in wholesale gas prices meant it was now able to reduce its prices.
[SPOTLIGHT]The move follows E.ON’s decision to cut gas prices by 3.5% last week and pressure from the Government to pass on savings from the significant drop in the price of wholesale gas.
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Cheapest tariffs now
At the moment, Extra Energy is (just) on top of the best buy table for fixed dual fuel. It's consistently cut the price of its tariffs to beat off competition from other companies, including First Utility and OVO.
Here's the top 10 for fixed dual fuel tariffs right now.
|
Energy supplier |
Tariff |
Type of tariff |
Average annual cost |
|
Extra Energy |
Fresh Fixed Price Jan 2016 v8 |
Fixed (until January 2016) |
£918 |
|
Extra Energy |
Clear Fixed Price March 2016 v44 |
Fixed (until March 2016) |
£919 |
|
First Utility |
iSave Fixed March 2016 v44 |
Fixed (until March 2016) |
£919.49 |
|
Ovo Energy |
Better Energy Fixed Online* |
Fixed (for 12 months) |
£920 |
|
E.ON |
Energy Fixed One-Year v14 (paperless billing) |
Fixed (for 12 months) |
£922.99 |
|
Extra Energy |
Bright Fixed Price jan 2016 v8 |
Fixed (until January 2016) |
£925 |
|
E.ON |
Energy Fixed One-Year v14 (paper billing) |
Fixed (for 12 months) |
£932.99 |
|
Co-Operative Energy |
Fair & Square March 2016 |
Fixed (until March 2016) |
£938 |
|
First Utility |
iSave Fixed March 2017 |
Fixed (until March 2017) |
£960 |
|
npower |
Fixed Energy Online April 2016 |
Fixed (until April 2016) |
£963 |
Source: lovemoney gas & electricity comparison centre.
Prices based on average consumption as measured by Ofgem of 13,500kWh of gas and 3,200 kWh of electricity and a customer paying by monthly direct debit including VAT.
*Not available in region 17 - Scottish Hydro area
Bear in mind these are average prices for the whole of the UK, so they may not be the cheapest where you live. Indeed, the tariffs above may be cheaper in your part of the world.
Compare gas and electricity tariffs with lovemoney.com
More on gas and electricity:
Cheapest gas and electricity tariffs
The quickest energy firms to switch to
Unusual energy tariffs and suppliers: alternatives to the Big Six