One of the UK’s major energy suppliers has offered a glimmer of hope for cash-strapped households by announcing a cut in tariffs.
EDF Energy increased its gas bills by 15.4% in November but said it would now cut them by 5% after a 9.2% decline in the one-year wholesale gas price.
The move follows speculation over the weekend that British Gas owner Centrica was considering a 10% reduction in households energy bills.
EDF said it was the last of the major suppliers to raise its energy prices in the autumn and is the first to announce a cut.
Chief executive Vincent de Rivaz said: “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.”