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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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Energy chiefs say more gas bill cuts 'under review'

More gas bill cuts could be on the cards if wholesale prices continue to fall, bosses at energy firm npower have promised.

Chief executive Paul Massara vowed that bills would be kept under review - and said the firm had cut tariffs as much as possible amid plummeting wholesale prices, while reflecting increasing costs elsewhere.

Bosses claim they have had to balance falling wholesale prices with increasing costs elsewhere Credit: PA

The announcement of a 5.1 per cent price cut by npower - the largest drop of the Big Six firms - comes as wholesale energy prices fall by around 19 per cent.

Today's announcement means we can get the benefits we are seeing in the wholesale market to our customers pockets as soon as possible.

We have balanced this wholesale price fall against increases in the other costs we are charged. If there are further falls in wholesale prices, we will keep these under review to see if we can cut further.

– Paul Massara, npower chief executive
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Smaller power firms rival Big Six with significant cuts in gas price war

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