Energy Bills: SSE Latest Firm To Cut Gas Cost

Written By Unknown on Senin, 26 Januari 2015 | 18.57

Another of the so-called 'big six' energy firms, SSE, has confirmed it is to trim its household gas costs and said it will extend its promise not to raise bills.

The company said it would reduce household gas prices by 4.1% but not until 30 April - with the cut saving a typical household customer £28 annually.

It added that its commitment not to raise gas and electricity costs would run for an extra seven months until July 2016.

Alistair Phillips-Davies, SSE's chief executive, said: "Customers are at the heart of SSE's business, and our work to secure their energy supplies in wholesale markets last spring enabled us to guarantee that prices would not increase until at least January 2016, showing we are committed to treating all of our customers fairly and to giving them stable prices over the long term.

"We're being true to that commitment with a 4.1% reduction in the typical gas bill and an extended guarantee meaning gas and electricity prices won't go up before July 2016 at the earliest.

"The challenging business environment we identified at the start of this financial year is likely to continue into the new financial year and we believe that addressing the resulting issues directly is the right thing to do for customers and the best way of safeguarding the interests of investors.

"That is why, at the same time as reducing tariffs for customers, we're continuing to make sure our own house is in order for the future, with a clear focus on our value programme to make sure SSE is well-positioned for the long term."

The company announced the price changes in a trading update for the first nine months of its financial year in which it said profits for the full year would be broadly in line with those for the previous 12 months.

SSE said the prolonged period of mild weather to 31 December 2014 meant that average consumption of electricity was estimated to have fallen by 5.6% while average consumption of gas dropped by almost 16%.

It also confirmed a fall in the number of households taking its gas and electricity - with 8.71 million customers registered on 31 December, down from 9.10 million on 31 March 2014.

While wholesale gas costs have tumbled 30% in the past 12 months, household suppliers have argued that it will not be reflected in bills for some time because they have to buy the raw product up to three years in advance.

They also point out that other costs within a typical bill, including network costs and so-called 'green levies', have risen.

The market is currently subject to a probe by the Competition and Markets Authority.

There is only one of the big six yet to announce a cut in its standard gas tariff - EDF Energy.

Npower said last week its average tariff would come down by 5.1% from 16 February, making it the largest percentage price cut in the recent wave of announcements from the sector.


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