Gas energy reduction by SSE will take effect from 29th March
Although price reductions are going in the right direction these changes will be too late to have much effect for consumers this winter. Wholesale gas prices have dropped a massive 55% and electricty 33% over the last year.
Dermot Nolan chief executive of the industry regulator Ofgem struck a cautious note, saying, “This is a move in the right direction, but if the market is as competitive as suppliers claim, we would expect to see further price cuts.”, while the energy secretary Amber Rudd curiously praised the small reduction, commenting, “SSE has taken a step in the right direction and I urge other suppliers to follow suit.”
Large savings can be made by visiting sites like energyhelpline will save consumers £100s compared to standard tariffs.