...as energy companies get set for price war
yeh right
Gas and electricity bills are expected to fall by as much as 10 per cent for millions of families because of Britain's mild winter.
Prices have already been reduced by some small suppliers and now the UK's big six companies are under pressure to follow their lead.
Consumer watchdogs say British Gas, which supplies 16 million homes, has a duty to pass on the savings after putting up prices in the summer.
Falling prices: Gas bills are being reduced because of the mild winter
Wholesale costs have plummeted this winter by as much as 25 per cent due to unseasonal warm temperatures, with energy companies overstocked with gas.
Industry experts believe British Gas could afford to cut retail prices by up to 10 per cent.
Demand: Consumer groups want bills slashed
They predict the big six will have to drop their charges to compete with the smaller companies.
On Friday, Ovo Energy became the second small energy provider to drop tariffs for its 70,000 customers on the back of a fall in wholesale prices.
They will see a saving of ?133 a year with a cut of of 5 per cent for dual-fuel fixed tariffs,
British Gas executives are understood to be considering announcing a price reduction before its parent company Centrica announces its annual results on February 23, according to the Daily Express.
A spokesman said: 'Clearly we need to remain competitive and we have to heed the market place.'
A reduction in British Gas?s dual-fuel electricity and gas tariff of 10 per cent would save households ?128 a year.
Last July it was the second of the big suppliers to raise bills by almost 20 per cent.
The company blamed the Arab Spring and the ~~~ushima nuclear disaster for a 30 per cent rise in the price of gas in the wholesale market.
Wholesale energy analyst Tom Marzec-Manser said: 'It is a simple case of supply and demand.
There is a lot of cheap gas out there due to the mild winter.'
Energy watchdog Ofgem said: ?The big suppliers have a responsibility to pass on savings.?
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Electricity and gas bills to be slashed by 10% as energy companies get set for price war | Mail Online
yeh right
Gas and electricity bills are expected to fall by as much as 10 per cent for millions of families because of Britain's mild winter.
Prices have already been reduced by some small suppliers and now the UK's big six companies are under pressure to follow their lead.
Consumer watchdogs say British Gas, which supplies 16 million homes, has a duty to pass on the savings after putting up prices in the summer.
Falling prices: Gas bills are being reduced because of the mild winterWholesale costs have plummeted this winter by as much as 25 per cent due to unseasonal warm temperatures, with energy companies overstocked with gas.
Industry experts believe British Gas could afford to cut retail prices by up to 10 per cent.
Demand: Consumer groups want bills slashed They predict the big six will have to drop their charges to compete with the smaller companies.
On Friday, Ovo Energy became the second small energy provider to drop tariffs for its 70,000 customers on the back of a fall in wholesale prices.
They will see a saving of ?133 a year with a cut of of 5 per cent for dual-fuel fixed tariffs,
British Gas executives are understood to be considering announcing a price reduction before its parent company Centrica announces its annual results on February 23, according to the Daily Express.
A spokesman said: 'Clearly we need to remain competitive and we have to heed the market place.'
A reduction in British Gas?s dual-fuel electricity and gas tariff of 10 per cent would save households ?128 a year.
Last July it was the second of the big suppliers to raise bills by almost 20 per cent.
The company blamed the Arab Spring and the ~~~ushima nuclear disaster for a 30 per cent rise in the price of gas in the wholesale market.
Wholesale energy analyst Tom Marzec-Manser said: 'It is a simple case of supply and demand.
There is a lot of cheap gas out there due to the mild winter.'
Energy watchdog Ofgem said: ?The big suppliers have a responsibility to pass on savings.?
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Electricity and gas bills to be slashed by 10% as energy companies get set for price war | Mail Online
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