EDF Energy has become the first of the Big Six energy suppliers to announce a price cut to offer its customers cheap gas.
The company will reduce its tariffs for gas by five per cent, effective from February 7th, in response to declining wholesale prices for the commodity, which it noted have fallen by 9.2 per cent since November.
It follows speculation that British Gas is also considering a reduction of up to ten per cent in its domestic energy bills.
Chief executive of EDF Vincent de Rivaz observed the company was the last of the Big Six suppliers to raise prices in the autumn and is now the first to make a cut.
He said: "What customers want more than anything else is fair, clear and transparent prices. We know they want action rather than words."
Recently, Ovo Energy also announced a price cut of five per cent for new and renewing customers due to cheaper wholesale costs.
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