Major energy supplier British Gas has announced that it will be cutting ten per cent off its gas prices on February 19th.
The company said that nearly eight million UK households would see their annual gas bill cut by around £84 and that it was the first major UK energy supplier to reduce prices on that scale for over a year.
All the UK's major energy suppliers blamed hikes in wholesale market costs for a series of price rises last year, but have faced intense criticism for not passing on subsequent market declines in a more timely way.
Phil Bentley, managing director of Centrica, the parent company of British Gas, said: "This price cut will go some way to helping customers manage their budgets, and we will continue to do what we can, when we can."
Customers paying by direct debit will have the discount applied to their monthly payments automatically from February 19th.
The Mirror recently reported that the energy supplier is due to post annual profits of £2 billion.
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