Energy credit cost cuts
Feb 6th, 2009 by jwood
Annual energy bills for millions of homeowners will fall by £66 after Scottish & Southern Energy announced its first price cuts for two years.
The supplier is to trim 4% from gas rates and 9% from electricity from March 30. Three million dual-fuel homes will see SSE prices shaved by an average £66 a year to £1,193.
The cuts come two weeks after British Gas sparked an energy price war by slashing the cost of gas by ten per cent, the first cuts in the UK for nearly two years.
The British gas cuts were expected to save nearly eight million customers an average of £79 per year.
Experts said millions more should benefit in the coming weeks as other energy companies are forced to lower their own residential rates.
The cuts follow extreme pressure on energy suppliers to pass cheaper wholesale prices on to customers.
Average bills for a British Gas customer will still be 36 per cent higher than at the start of 2008 when the cuts take effect on February 19.
However many customers and experts are seeing the move as too little too late to help with the cost of winter fuel bills.
For now it is advisable for customers to continue shopping around for the best deal by keeping an eye out for further price cuts and by using price comparison sites such as uswitch.com.
By Jade Wood
