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Smaller power firms rival Big Six with significant cuts in gas price war

Smaller energy firms have squared up to the Big Six amid an ongoing gas price war - with Ovo announcing a hefty 10.4 per cent price cut.

It comes after EDF came under fire for announcing a cut in tariffs of just 1.3 per cent - significantly below the wholesale price drop of 19 per cent.

It comes after British Gas announced a five per cent cut in prices, E.ON reduced tariffs by 3.5 per cent, Scottish Power announced a 4.8 per cent drop in prices, npower revealed a 5.1 per cent cut and SSE announced a 4.1 reduction.

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British Gas to reduce gas prices by 5%

British Gas is to reduce household gas prices by 5%, cutting annual energy bills on average by £37.

The move will cut annual bills by £37 on average. Credit: PA Wire

The energy supplier, owned by Centrica, said the move will benefit 6.8 million customers when it comes into force on February 27.

The company said the cut reflected the recent drop in wholesale gas prices, and that it would be keeping prices under review "for further movements up or down".

Energy companies have been coming under pressure from politicians and regulators to pass on lower costs to homeowners.

Last week, E.ON became the first firm to react to falling wholesale prices by announcing a 3.5% cut.

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Smaller power firms rival Big Six with significant cuts in gas price war

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