Npower has become the last of the big six gas and electricity suppliers to reduce its prices.
The company said that three million customers would benefit from an 8% cut on their electricity bills, which will take effect at the end of the month. Gas prices will remain unchanged.
In September 2008, Npower raised customers’ gas bills by 26% and electricity by 14%. The company defended its decision not to cut gas prices, saying that it had taken steps to protect its customers from the full impact of rising wholesale gas prices when it put prices up last year.
The power giant also said that its gas prices remained competitive with other suppliers.
Alison Morrison, from Which?’s free and independent switching service Which? Switch, said: ‘This is good news for consumers whose wallets have recently taken a beating. Npower has finally followed the other energy providers and cut at least some of its prices.’
‘Now’s the time for consumers to take advantage of the lower prices and find out what energy deals are out there. Switching suppliers, tariffs or just the way that you pay your bill could save hundreds of pounds.’
According to Which? Switch, households that changed supplier or tariff between 1 August 2008 and 31 December 2008 saved on average £257 a year using the service.
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