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Major energy supplier Scottish and Southern (SSE) has announced price cuts on both gas and electricity which will come into effect from March 30th.
Average reductions of nine per cent will be available for electricity customers, while gas customers will see an average drop of four per cent. Households that receive a so-called 'dual fuel' deal will save around £66 each year.
The energy supplier said that consistent reductions in wholesale market costs had enabled it to reduce its consumer prices, although it stressed that costs were still around 50 per cent higher than they were in 2007.
Alistair Phillips-Davies, energy supply director of SSE, said: "The UK now relies on energy imports and wholesale prices for electricity and gas are still at historically high levels."
All the UK's major energy suppliers have been under intense pressure to provide cheap energy prices in recent months and consumers could choose to switch energy supplier when British Gas announced a reduction.
Energy suppliers have been criticised for not lowering their prices sooner to better reflect wholesale costs.
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