SSE to drop gas prices
Gas vendors, SSE, have said that they're going to be reducing their prices, thanks to a drop in wholesale costs. The 5.3% cut in their standard tariff will come into play on 29th March, just in time for Spring.
SSE said: "This latest reduction will save a typical household gas customer on our Standard tariff £32 per year compared to existing prices and is SSE’s third gas price cut in two years when it announced a unique price freeze in March 2014."
"SSE customers have not seen an energy price increase since November 2013; indeed, the new gas prices will be 12%, or £78 lower for an average customer than 2013 levels."
"A typical dual fuel Direct Debit bill on our Standard tariff will be £1,068 compared with £1,162 in November 2013."
Of course, SSE have been losing a lot of customers of late, so this is clearly a move to win some hearts and minds. Will it work? Well, seeing as all the energy companies are looking at (or have already) dropping their prices, SSE will have to do more than just lower some bills. You'll remember than E.On made a similar move.
SSE added: "Wholesale energy prices account for an ever-smaller proportion of the bill and there are different cost pressures affecting electricity and gas, but SSE is pleased that it will be able to bring down gas prices three months before its current price freeze is due to end."