Consumers buoyed by promise of British Gas price cuts
Published On 8 February 2007
Consumers will be happy with the news that British Gas has promised cuts in the price of electricity and gas in the next month. The company announced it would be cutting gas prices by 17 per cent and electricity by 11 per cent.
Customers can expect their average fuel bills - including both electricity and gas – to fall by £167 to £953.
Sam Laidlaw, Centrica chief executive, said the cuts have come about from new undersea pipelines.
He commented: "The billions of pounds we have committed to gas contracts underpinned the construction of new undersea pipelines that are now delivering additional gas supplies to the UK.
"These new supplies of gas have directly led to the fall in wholesale prices which we can now pass on to our customers. Our price cut still enables British Gas to make a sustainable margin in 2007 and allows for further investments in the future."
Over four million consumers opted to change their gas or electricity supplier in 2006, according to recent figures from energy watchdog Ofgem.
