British Gas electricity bills cut

British Gas has cut its electricity prices by 10% – the last of the major suppliers to do so.
The cut, which will come in with immediate effect, will save 4.5 million customers an average of £43 a year.
The company cut its gas prices, also by 10%, on 19 February this year, benefitting more than seven million households, it said.
The two price cuts will together save UK households an average £132 on their gas and electricity bills.

British Gas actually raised electricity prices twice last year, by a total of 26%.
All its electricity customers on standard tariffs – including those with pre-payment meters – will benefit from the 10% price cut.
The cut was made possible by a fall in the cost of wholesale electricity.
„The price of electricity on the wholesale markets has been falling and we’ve always said British Gas will do what we can to lower prices when we can,“ Phil Bentley, British Gas managing director told BBC News.
„Today, British Gas customers are paying less for their electricity than they were two years ago,“ he said.