Well, as predicted...

E.ON has just announced a 6% cut is the price of its standard electricity from Monday 27th February 2012. They claim that it equates to £31 off the cost of the average annual energy bill. E.ON estimate it will benefit 75% of its customers. No change has been announced to the price of its standard gas price.

So, that's 5 of the 'Big 6' energy providers to have moved since last week. Just Scottish Power left to announce their decision...any takers on if/when they will announce?

Graeme
Community Manager
graeme.delap@moneysupermarket.com

Hi Twee - I haven't checked using our energy calculator but a colleague has just pointed out that for those customers who fixed before last November's price rises, it's likely that you wil still be on a cheaper deal - so being rash and switching now could end up being a costly decision.

Watch this space. I think we'll see more movement in the next week or two.

Graeme
Community Manager
graeme.delap@moneysupermarket.com

Hi Graeme,

I went on to Scottish Powers "Online Capped 2013 version B no standing charge" tarriff about 6 months ago

I take it that much more than a 5% drop will be needed before I see any reduction in cost ?

Another day....another energy price cut!

nPower has announced a cut to gas prices by 5% for all customers on standard and capped tariffs from February 1, 2012.

It is also dropping cancellation fees for the next 2 months for anyone wishing to switch from a fixed tariff.

What will the weekend bring?!?

Graeme
Community Manager
graeme.delap@moneysupermarket.com

You know that old saying about things happening in threes? Well, a further two price changes this morning - it all happens at once!

British Gas has cut its standard electricity price by 5% - saving around £25 on the average annual domestic bill. Average standard duel fuel bills for customers paying by cash or cheque are now £1,260.56. The price takes place with immediate effect.

Also, SSE has announced a cut of 4.5% to its standard gas prices with effect from March 26.

Consumer Focus's take on the changes is: "It's good to see cuts being made to both gas and electricity prices, even if by different firms. While companies will respond differently depending on where they think wholesale prices are heading, wholesale gas and electricity prices have been falling over the last year this narrowing of costs must be reflected in consumer prices.

The heat is now on for others to follow suit and help ease the pressure of high energy bills for their customers.

The widening gap between wholesale and retail prices has become the fault line for consumer confidence. Companies want to regain the trust of their customers. Narrowing this gap is a necessary part of achieving this.

The other four major suppliers should act now if they want to be seen as committed to an effective competitive market."

What do you think?

Graeme
Community Manager
graeme.delap@moneysupermarket.com

Hi all,

I thought I'd start another thread for 2012 to highlight all the 'Big 6' energy providers' price changes. Feel free to add to and update this thread yourselves.

A spot of good news, this one!

EDF Energy has made a cut to the cost of its standard gas bill from 7^th February 2012. The cost of standard gas is being reduced by 5% - which will mean an average reduction in bills of around £40 a year. There is no change to the cost of electricity.

EDF Energy's 1.4m customers will now pay £1,202 a year on average for standard dual fuel when paying quarterly by cash or cheque. EDF Energy was already the cheapest standard gas and electricity provider out of the ‘Big Six' energy companies after making the smallest increases in the round of price hikes we saw in 2011.

While this comes hot on the heels of a 3% reduction by Co-op Energy and a 5% drop by OVO Energy, it's well worth remembering that there are still things you can do to reduce the amount of energy you use, become more energy efficient and also reduce the cost of your gas and electricity bills.

You can read some of our latest tips and support here.

So - good news? A welcome boost for the new year? The start of a new round of energy price changes? Tell us what you think.

Graeme
Community Manager
graeme.delap@moneysupermarket.com