Npower lowers rates
This week, npower has lowered its standard gas prices, but is that going to be enough? They will lower standard customers’ gas bills by 7%, so around two million of their customers will see their bills fall by around £50 a year.
Four of the six biggest energy companies have now lower their prices, but it might not be enough for some of their struggling consumers.
Scott Byrom, moneysupermarket.com’s head of utilities, demanded: “Where’s the price war we were all hoping for? It’s not a ‘price war’; it’s more like a ‘price fisticuffs’.”
Scott said: “npower is the fourth of the big six to offer their customers a tiny price drop – 7% to standard gas prices. While this cut is on a par with the recent cut from rival British Gas, npower unfortunately hasn’t even come close to taking the top spot on price for dual fuel customers; it currently sits fifth in the table for standard dual fuel tariffs.”
He also warned that, apart from British Gas, these cuts are effective from the end of March, which won’t be much help to customers who needed lower costs during the freezing winter weather.