Npower has announced price reductions on domestic gas by an average of 7%.
Following yesterday’s announcement from Eon that it is to slash gas prices, Npower’s price cuts will work out as an average £50 saving for two million Npower customers.
You can check whether Npower’s price cut makes it worth switching energy suppliers by using Which? Switch – our free energy comparison and switching site.
Cheaper than British Gas
Npower claims the reduction will make it cheaper on average than British Gas for gas.
Its monthly direct debit gas customers will get an increased discount from £20 a year to £50 a year, while monthly direct debit electricity customers will see their bills drop by £40 a year – equal to an additional 4.8% cut on their annual electricity bill.
Save money on gas and electricity
If you want to see if the recent gas price cuts from British Gas, Eon, Npower and Scottish and Southern Energy will make a difference to your energy bills, then take a look at Which? Switch to compare energy tariffs.
You can also find out the most energy efficient home appliances Which? has reviewed in our energy saving appliances review.
Which? wants energy price transparency
Which? chief executive Peter Vicary-Smith said: ‘Any price cuts will be welcomed by consumers, but what we really need to see is a complete overhaul of the UK’s energy markets.
‘There’s no transparency in how energy companies set retail prices, so it is impossible to tell whether these cuts represent a fair deal for consumers or energy companies trying to placate their customers after a long, cold winter.’
Government consumer body Consumer Focus is also calling for a Competition Commission referral to revive the energy market.
A spokesperson said: ‘Npower customers will be pleased that they are next for a price cut. But the days of cut throat price competition seem a distant memory. All suppliers now cut by almost identical margins within days of each other.’
Lower your gas and electricity bills
You can compare energy prices and switch to a new gas and electricity supplier on Which? Switch. People who switched with us between 1 October and 31 December 2013 are predicted to save an average of £234 a year on their bills.
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