EDF becomes latest firm to reduce gas prices

UTILITY group EDF Energy yesterday became the latest provider to announce a gas price reduction as it unveiled a 4 per cent cut in standard bills.

The firm said the reduction would take effect from 26 March and will see around 1.5 million gas customers benefit.

EDF is the fifth of the "big six" providers to lower prices in the latest round of cuts, leaving ScottishPower as the only group yet to announce bill changes.

Yesterday's cut from EDF came after the group overhauled its pricing last October, which has seen gas-only customers benefit from two reductions in tariffs in the past six months.

EDF said standard bills for gas-only customers will be 6.9 per cent cheaper than in October 2009 when the latest cut comes in.

Those paying by monthly direct debit will have seen even greater reductions, with prices down by 10.6 per cent in the past six months.

Consumer Focus has also renewed calls for an investigation of the sector by the Competition Commission as it said the cuts so far from the "big six" providers showed a lack of competition.