Big Six energy provider npower said it will cut its average prices by 5.2%, which will reduce its standard domestic gas tariff by £32.
The firm, owned by German power group RWE, said the reduction will apply to around 1.2 million customers, and means that on average the annual standard npower domestic gas tariff falls to £591 per year, from £623.
The cut from npower follows similar cuts from rival Big Six providers SSE and E.On last month.
Npower RWE chief executive Paul Coffey said: “This cut in gas prices is welcome news for many of our customers. We have balanced the wholesale price fall against increases in the other costs we are charged.”
Secretary of State for Energy and Climate Change, Amber Rudd, said: “My top priority is to keep bills down for hardworking families and businesses. I’m absolutely clear that energy suppliers must give consumers a fair deal and that’s why I’ve been calling on energy companies to put their customers first and pass on savings to them. Npower is now the fourth of the Big 6 to take a step in the right direction by dropping its standard gas price and I urge other suppliers to follow suit.
“The Government is also taking action to keep bills low by making it easier and quicker to switch, rolling out smart meters to every home and business, and increasing competition in the energy market”.
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