As sure as Spring follows Winter, Big Six energy companies follow each other with price cuts at this time of year. Today SSE announced it was cutting its gas price by an average of 5.3% from the end of March.
It claims this will save a standard tariff customer around £32 per year and is SSE’s third gas price cut in two years.
Will Morris, Managing Director, Retail at SSE, said: “When we announced our price freeze, we promised that we would not increase prices but would cut them if we could – and that’s exactly what we’ve done.
“Wholesale energy prices account for an ever-smaller proportion of the bill and there are different cost issues affecting electricity and gas but I am pleased that we will be able to bring down gas prices three months before our current price freeze is due to end.”
Energy Secretary Amber Rudd added: “My top priority is to keep bills down for hardworking families and businesses. I’m absolutely clear that the market must provide a fair deal for consumers and that’s why I’ve been pressing energy companies to put their customers first and pass on savings to them. SSE has taken a step in the right direction and I urge other suppliers to follow suit.”
E.ON announced a price cut last week and it’s expected the other big suppliers will soon follow suit with cuts.
Despite this they are still attracting criticism.
Ben Wilson, energy spokesperson at price comparison site Gocompare said: “SSE customers will undoubtedly feel well and truly short-changed by the offer of a £32-per-year saving on their gas bills, especially at a time when there are so many good value dual fuel tariffs available.
“It takes five minutes to do an energy comparison online, and SSE customers could switch and save significantly more than £32 long before 29 March.”