British Gas announces 5% price cut - but is it enough?

British Gas is going to drop gas prices by 5% - but is it enough?

Good news today for British Gas customers – the energy giant is cutting gas bills for 7 million customers by £35. The 5% cut takes effect from 27 August.

The price cut follows a similar move in January, and brings total savings for British Gas customers on its standard and fix & fall tariffs to £72 so far this year.

While we expect other energy companies will follow suit by finally passing on the decrease in the cost of wholesale energy, as savings on customer’s bills, we are underwhelmed.

The British Gas price cut is disappointing for three reasons:

1) It’s been too long coming
2) It’s too small.
3) It doesn’t take effect for well over a month. Customers deserve better!

Anyone who hasn’t switched energy bills in the past year can quickly compare the whole market, and switch. Someone with average bills can often save around £200.

It’s a 10 minute job and you can switch suppliers in 17 days – no hassle, no interruption to supply and no work at your property.

To compare different energy providers, why not try a quick search and see if you can switch and save: http://www.moneysupermarket.com/gas-and-electricity/

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