When should gas timing come on and off? Can you help this gas and electricity forum user to reduce his bill?

Let’s give credit where credit is due. Two weeks ago, I wrote an article here in Rate Alert that suggested you, the consumer, should move away from ScottishPower and EDF to force them into price cuts. Well, it seems they were listening (or at least paying attention when British Gas announced a further price reduction) with both companies FINALLY cutting their prices.

So how does this leave the utilities picture now? Which providers are the cheapest?

Well, for the most accurate picture you should use the gas and electricity comparison tool by clicking here. This will allow you to compare tariffs based on your consumption in your region and will find you the cheapest deal. However, I will attempt to summarise.

Firstly, the announcements from ScottishPower are certainly to be welcomed. The provider has cut its rates by up to 16.5% on gas and up to 5.5% on electricity (as of June 15), which some analysts suggest will cut the average bill by approximately ₤75/year. Good news indeed, but there is a catch – this is for direct debit customers only. For cheque or cash customers, gas prices have dropped by a mere 5% and there is no reduction on electricity. So if you’re a ScottishPower customer, compare prices now and get on a direct debit deal.

Just a week before this news broke, British Gas cut its standard tariff prices by a further 3% on gas and 6% on electricity and crucially this reduction is effective immediately.

ScottishPower responded by introducing another new tariff – the Price Fall Product. This guarantees that prices will not increase until October 2008 and promises to pass on future decreases should standard rates fall below its current level. The important thing to remember with this deal is that you won’t get it by simply sitting on your hands. Existing customers will remain on their current tariff unless they request to move to Price Fall – meaning you miss out on better rates unless you speak up. Use the gas and electricity tool now to see what you could be getting from your existing provider and click the ‘apply’ buttons to go straight through to these better rates.

For EDF, the news is less encouraging. Though it has cut gas prices by 10.2%, this change also won’t come into affect until June 15, meaning that dual fuel EDF customers will miss out on approximately ₤18.50. Indeed with most of EDF’s 5.5million customers on electricity-only tariffs, it is highly disappointing that there has been no reduction to its electricity prices. While price cuts are always to be welcomed, with EDF it certainly seems to be a case of much too little, far too late.

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