British Gas has announced that, as from 27 February, household gas prices will be cut by 5%.
Last week E.ON announced that it was cutting gas
prices by 3.5%.
The energy companies claim that this is as a result of the fall in wholesale gas prices. This is undoubtedly true. However, with an election in the offing, you can be sure that a considerable amount of political pressure has been applied to these firms to make a "feel good" cut in prices in the run up to the election.
Let us see how responsive these firms are to further falls in the wholesale gas price after the election!