British Gas looks set to rectify some of its bad decisions as of late with price reductions, which will see an end to seven years of price hikes and British Gas as the cheapest energy supplier for gas, dual fuel and online tarrifs. However this position will not last long as other suppliers are expected to cut prices in order to stay competitive.
Last year saw hikes of 36.4% overall, which are set to be reduced by 17% for gas, 11% for electricity and 15% for dual fuel. With 10 million customers with gas and 6 million for electricity, it’s one of the UKs largest energy suppliers and is the first to announce price drops. However other suppliers are expected to follow suit and inevitably lead to a price war, which will let customers claw back some of the money they have lost over the years.