Igloo Energy cuts prices by 3.5%

It marks the third time the challenger energy brand has reduced its prices this year

Igloo Energy has cuts its prices by 3.5%.

The announcement means the challenger energy supplier has now dropped the cost of its single tariff, the Igloo Pioneer, three times already this year.

The firm claims a typical customer on the deal is now paying around £130 less than at the start of 2019 and around £420 less than some larger energy companies’ standard tariffs, many of which are set at the same level as the price cap.

Igloo Energy says the reason for the reduction is because wholesale gas and power prices have continued to fall and these savings are being passed onto consumers.

The company dropped its prices by 2.6% in March and by 3% in April.

CEO of Igloo Energy, Matt Clemow, said: “Although wholesale prices are falling, the big energy companies are still using their tease and squeeze approach, by offering cheap introductory prices to lure customers in while keeping their expensive variable tariff in line with the Ofgem price cap.

“We’re firmly committed to delivering the lowest prices we can to customers on our one simple tariff, whilst helping them to lower their energy consumption.”

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