Fourth Big Six supplier to cut gas prices.
Npower has announced it is to cut gas bills by 5.1%.
The energy giant says the cut is the equivalent of a £35 reduction on the average annual standard Npower gas tariff. However, it won’t come into force until Monday 16th February.
Npower is the fourth member of the Big Six energy suppliers to announce a cut in gas bills over the last couple of weeks, following E.ON, British Gas and ScottishPower. It’s worth noting that only E.ON reduced bills immediately – the other suppliers are waiting until February before implementing their price drops.
The reduction in price follows pressure from the Government after significant falls in the price of wholesale gas.
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The cheapest energy tariffs
It’s worth remembering that these cuts only apply to standard tariffs, which are generally the worst value deals anyway. The table below highlights the current cheapest tariffs for average energy users, which at this moment are all fixed.
|
Supplier |
Tariff |
Type of tariff |
Average annual cost |
|
Extra Energy |
Fresh Fixed Price |
Fixed (until January 2016) |
£914 |
|
Extra Energy |
Clear Fixed Price |
Fixed (until March 2016) |
£919 |
|
Extra Energy |
Bright Fixed Price |
Fixed (until January 2016) |
£919 |
|
First Utility |
iSave Fixed |
Fixed (until March 2016) |
£919.49 |
|
Ovo Energy* |
Better Energy Fixed (Online) |
Fixed (for 12 months) |
£920 |
|
E.ON |
E.ON Fixed One Year Paperless |
Fixed (for 12 months) |
£922.99 |
|
ScottishPower |
Online Fixed Price Energy |
Fixed (until February 2016) |
£930 |
|
Green Star Energy |
Rate Saver |
Fixed (for 12 months) |
£931.60 |
|
E.ON |
E.ON Fixed One Year Paper |
Fixed (for 12 months) |
£932.99 |
|
Co-operative Energy |
Fair & Square |
Fixed (until March 2016) |
£944 |
Source: lovemoney gas and electricity comparison centre
[SPOTLIGHT]Prices based on average consumption as measured by Ofgem of 13,500kWh of gas and 3,200kWh of electricity and a customer paying by monthly direct debit including VAT.
*Not available in region 17- Scottish Hydro area
Just be aware that the price of your energy will be based on your postcode and may be more expensive, or even cheaper, than the ones listed.
To put npower's price cut into context, from 16th Febuary its standard dual fuel tariff, based on average energy use and paid by monthly direct debit, will cost £1,169 a year. That's £255 a year more expensive than the cheapest tariff in the table above.
Npower has also just been voted worst energy company for customer satisfaction by Which? readers.
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'Big Six' gas price cuts can still be easily beaten