British Gas and EDF cut gas prices

British Gas unveiled a 5.1 per cent price reduction, followed swiftly by EDF’s announcement of a 5 per cent cut, reports The BBC.

British Gas’s price change takes effect on 16 March, while EDF’s kicks in eight days later.

The moves follow a series of reductions in gas prices announced across the industry in recent weeks.

The dates of the changes are likely to bring renewed criticism that prices are cut only towards the end of the coldest months.

The chief executive of energy supply and services for British Gas in UK and Ireland, Mark Hodges, said it was the only major supplier to cut prices twice last year.

“Taken together, our three price reductions will bring the average household’s annual energy bill down by almost £100.”