Are lower suppliers set to reduce tariffs?

Article date : 08/02/2010

British Gas has become the UK's first energy supplier to reduce its tariff, lowering its standard fuel prices by seven per cent, it has been reported.

Following this news, Gocompare.com has suggested other UK energy providers may now be set to follow suit.

Such comments may be welcome news for Britons concerned about how they will pay their bills following the coldest winter in the UK for around 30 years.

Mark Greening, head of utilities for Gocompare.com, said: "Energy companies don't have a great reputation for swiftly passing on the benefit of wholesale price drops and this quite rightly annoys consumers."

While British Gas and its competitors may now be taking steps to lower their prices, he warned this could be short lived and urged consumers to compare costs in order to get the best deals.

However, making central heating systems more energy efficient could also be advisable.

The Energy Saving Trust notes Britons could save over £200 a year on their energy bills by having a condensing boiler and heating controls installed.

Such savings may prompt homeowners to find out if they are eligible for the new boiler scrappage scheme, which could provide them with £400 towards the cost of a condensing boiler.

Written by Jasper Cullen

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