Eon is the third major energy supplier to reduce its prices – hot on the heels of Scottish & Southern Energy (SSE) and British Gas, which both announced price cuts in the last two weeks.
The company has reduced its electricity charges by 9% – but its 4.1 million customers will have to wait until the end of March for the new prices to take effect.
No change for gas
Also, its gas prices – which Eon increased by 26% in August 2008 – won’t be cut. Defending its decision, the company said that its gas prices were still lower than British Gas, even after its recent 10% cut.
Graham Bartlett, managing director of Eon’s retail business, said: ‘We are delighted to announce today that we’ll be reducing our electricity prices for millions of customers, while also having maintained one of the cheapest gas prices throughout the coldest winter in over a decade.
‘We know our customers are facing difficult times and we are continuing to monitor the market to ensure the prices we offer our customers are as competitive as possible.’
Eon’s announcement came hours after power bosses were quizzed by MPs on prices and future investment.
Which? principal economist John Holmes said: ‘Yet again, an energy supplier trumpets its goodwill towards customers by cutting prices, but it neglected to mention that we’ll be well into the warmer, lighter months of spring before they take effect.’
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