Npower, Eon and Scottish Power announce price cuts

Npower and Scottish Power are to cut gas prices by 5% and Eon will cut its standard electricity prices by 6%.

These price cut announcements follow EDF Energy - which has said that it will cut gas prices by 5% on 7 February - and was closely followed by British Gas and and SSE

British Gas has cut its electricity prices by 5%, while SSE will reduce its gas bills by 4.5 on 26 March. 

Npower gas price reduction

Npower was the next to announce that it was cutting gas prices - on its standard and capped tariffs - which will come into effect on 1 February.

The company said that it will waive cancellation fees for customers on fixed rate contracts who want to move to another Npower deal. 

Eon electricity prices

Eon was the fifth of the major energy suppliers to announce price cuts - it will reduce standard electricity prices by 6% on 27 February.

It estimates that around 3.7 million customers will see the benefits of the cuts, with the average bill dropping by around £31.

Scottish Power gas price cut

Scottish Power is the latest to announce reductions - it will cut its gas prices by an average of 5% from 27 February.

The company said that the 5% drop would lower the average annual bill by £36 for standard gas customers paying monthly by direct debit.

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