British Gas cuts electricity prices by 10%

Consumers can breathe a small sigh of relief today as British Gas becomes the last of the major energy suppliers to cut its electricity prices.

British Gas, the biggest supplier of electricity to homes in Britain, which serves around one in every four homes, has today cut an average 10% off its standard electricity prices. The move is expected to save 4.5 million customers an average of £43 a year.

Earlier this year, British Gas also cut its gas prices by 10%, reducing costs for more than 7 million households. According to the supplier, the two price cuts combined will save UK households an average £132 per year.

According to British Gas, its electricity rates are now up to £111 lower than the local supplier, but critics have been quick to point out that British Gas raised electricity prices twice last year, by a total of 26%, meaning that some customers may still be worse off than they were at the beginning of last year.

Phil Bentley, British Gas Managing Director, said:

“We want to do what we can, when we can, for our customers. When we were able to cut gas prices earlier this year, we did. And I’m pleased we are now able to cut an average 10% from our standard electricity prices and continue to help our customers during this economic downturn.”

All British Gas electricity customers on standard tariffs – including those with pre-payment meters – will see the benefit of the price cut, so now may be the time to review your energy costs. Head over to http://www.totallymoney.com/utilities/ and enter your details to compare prices from every supplier in your area. When you find the right deal, just hit apply and TotallyMoney.com will handle the rest.