npower will cut gas prices for its 2 million domestic customers by 7% as from 26 March 2010. The cut will result in savings of £50/year on average, making npower cheaper than its competitor Bristish Gas for gas prices. npower has a portfolio of 6.8 million residential gas and electricity accounts throughout the UK.
Previously, British gas had also reduced its gas prices by 7%, followed by SSE (-4%) and E.ON (-6%).
Scottish Power will reduce gas prices for around 1.6 million domestic gas customers by 8% on average from 31st March 2010, following other energy companies’ recent reductions. These reductions result from a fall in wholesale prices.
EDF Energy announced a second cut in its residential gas prices of 4%, effective from 26 March 2010. It follows a first reduction in October 2009. Gas prices thus reduced from between 6.9% to 10.6% on average since October 2009.