EDF Energy to cut gas price by 5%
January 11, 2012
One of the UK's largest energy suppliers, EDF Energy, has said it is to cut its gas bills by 5% from 7 February.
The move follows a sharp fall in the price of wholesale gas over the winter period due to the mild weather.
EDF increased its gas bills by 15.4% in November in response to rising wholesale gas prices.
The move to cut bills is the first by a major supplier and is likely to be followed by other energy companies.
The company did not announce any cut to the price of its electricity bills, which rose by 4.5% in November.
"What customers want more than anything else is fair, clear and transparent prices. We know they want action rather than words. That is why we are the first major supplier to announce a cut and were the last to increase prices," said Vincent de Rivaz, chief executive of EDF Energy.
The company said that the wholesale price of gas had fallen 9.2% since it announced it was putting up bills on 10 November last year.
Dissatisfaction
The price cut comes as an annual customer satisfaction survey carried out by Which? magazine showed EDF second bottom of the "big six" energy suppliers.In all, 43% of customers said they were satisfied with the company's service or likely to recommend it to others.
Of the big six suppliers, only one, Scottish and Southern Energy, received a score of more than 50%, getting 51%.
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