Gas and electricity price cuts

Welsh charity Age Cymru has welcomed today’s (12 January) news that British Gas has cut its electricity prices by 5 per cent with immediate effect.

The move follows an announcement by EDF Energy yesterday that it is to cut its typical domestic gas bill by 5 per cent from 7 February.

Commenting on the news, Age Cymru’s Head of Policy and Public Affairs Graeme Francis says:

“These announcements from British Gas and EDF Energy are good news for energy customers after the significant price rises for gas and electricity at the end of 2011.

“The pressure will now be on the other big energy companies to follow suit and reduce their charges to match falling wholesale prices, in the way that they have traditionally matched each other when prices are rising.

“However Age Cymru remains concerned that the long-term trend is still towards energy prices rises as a result of a number of changes being made to the UK’s energy infrastructure, and this will undoubtedly lead to an increase in fuel poverty in future.

“This is why the UK Government must establish whether customers are paying a fair price for gas and electricity, as it still often appears to be the case that energy companies pass on price rises much quicker than they cut bills when the wholesale cost of fuel goes down.”

ENDS