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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.

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