Energy firms are facing increased pressure from the Government to pass on a fall in wholesale costs – the price providers pay for energy – to consumers by slashing household bills.
Customers of the big six energy suppliers are paying up to £234 a year too much for their gas and electricity bills, a competition probe has found. But MoneySavingExpert.com has been saying for years that households could save hundreds by switching.
Ovo Energy has today announced it's cutting gas prices by 10.4%, which is more than double the recent price cuts revealed by the big six energy providers. But households can still save more by switching.
EDF Energy has today become the last of the big six energy providers to announce a gas price cut this year, but prices will only fall by a tiny 1.3% and not until 11 February.
SSE has today become the fifth of the big six energy providers to announce a gas price cut this year, but the 4.1% drop won't take effect until 30 April.
Customers of electricity provider iSupplyEnergy will no longer be blocked from switching if they don't tell it they're moving elsewhere, following concerns flagged by both customers and MoneySavingExpert.com.
24 December 2014
Suggest a story
Got a money-related news story that affects you? Email us