British Gas finally reduces electricity prices
While British Gas will today grab the headlines with a 10% reduction in electricity prices it must be noted that the company has lagged the likes of NPower, EDF Energy, EON, Scottish Power and Scottish and Southern Energy by a few months. However, the move will be well received by the 4.5 million British Gas electricity customers who will now save around £132 a year if they are part of the company's dual fuel program.
This takes the annual cost of the average duel fuel bill down to around £1,127 which is currently the cheapest monthly direct debit service available. The company confirmed that a recent reduction in wholesale prices has allowed a realignment of electricity charges although whether there are any more reductions to follow during 2009 remains to be seen. There are still many consumer groups who believe that energy companies across the board have failed to pass on significant wholesale price reductions to their customers and are still making significant profits even in these difficult times.
Despite the fact that prices have fallen of late many consumers across the UK are still struggling to cover their energy bills and assistance from the authorities and energy companies has been slow to emerge.
Share this..
Related stories
Brit drivers over-rely on hearsay, car insurer warns
Britons who rely on received wisdom and hearsay about motor insurance cover rather than studying the small print of their policies are risking a severe financial hit, according to a car insurance provider. In a study conducted by swiftcover.com, 36 per cent of respondents assumed they would be covered in the event of a crash when they were behind the wheel of their partners or friend's car. In fac...
Read MoreUK government reveals £60 million funding for north-east economy
In a desperate attempt to revitalise and stabilise the economy of the north-east of England the UK government has today revealed a £60 million taxpayer funded investment into businesses in the region. This comes only days after the closure of a Teeside steel works with the loss of 1700 jobs, a massive blow to a region which has been under pressure for some time. The £60 million being made ava...
Read MoreIs This The End For The Budget Airlines?
News that Ryanair has been hit by the rising cost of fuel has seen many aviation experts question the long term security of the sector and whether we will see any major companies going under over the next few weeks and months. The sector itself has been built upon a no frills service which requires large volumes of customers to make it work, but in times of economic slowdown the model has been fo...
Read MoreUK government receives timely boost
In what must have been the worst two weeks in the political life of Gordon Brown it looks as though there is the possibility of a silver lining. The National Institute for Economic and Social Research has highlighted the first increase in industrial output in the UK for more than 12 months, prompting suggestions that the economy is turning. While there is still some way to go until we see a fully...
Read MoreTemporary saver protection could be increased tenfold
The Financial Services Authority has today tabled a motion which could effectively see a temporary increase in saver protection limits from £50,000 to £500,000. While the move has not been ratified as yet it seems likely we will see the introduction of short-term protection for those who have sold a large asset such as a home. How long the extended protection would last remains to be seen but it...
Read More