British Gas cut prices by 5% (gee, thanks!)
British Gas has announced a 5% cut in gas bills, which will give the average customer a saving of £35 per year. Now, normally, that's pretty good news, but this is British Gas who have, to put it bluntly, been taking the piss for years.
Even though this is the second gas price reduction in six months, which combined, is supposed to save us £72, British Gas have enjoyed a 25% fall in the wholesale cost of gas since December 2014. While any reduction in bills is welcomed, they could have absolutely passed on more savings.
Stephen Murray, from MoneySuperMarket and not very happy about the whole thin, said that this price cut is "long overdue, and may seem underwhelming compared to how low wholesale prices are".
Of course, British Gas have an answer for everything, and they've said that other costs had gone up.
Mark Hodges, from British Gas, said: "If you look at transmission costs - the cost of the pipes that move the gas around the country - actually those costs have been going up steadily for a number of years."
Anyway, the drop in price will come into play from 27th August and will benefit 6.9 million customers.