Scottish Power to chop domestic gas costs by five.4 percent

Iberdrola's Scottish Power, one in all Britain's huge six power firms, can cut back its domestic gas costs by a median of five.4 p.c from March fifteen, it aforesaid on Tues, when similar cuts by alternative energy suppliers within the past period.

"This latest step-down suggests that the common annual gas bill on customary tariff can cut back by thirty two pounds as of March fifteen with over one million customers making the most of reduced costs," Neil Clitheroe, Scottish Power's chief government of Retail and Generation, aforesaid in a very statement.

Wholesale gas costs ar mercantilism at multi-year lows attributable to a milder winter than usual, associate degree oversupplied market and pressure from falling artefact costs.

SSE aforesaid last week it might cut its domestic gas costs by a median of five.3 p.c from March twenty nine, while E.ON declared a five.1 p.c reduction from February. one every week earlier.

Britain's biggest energy suppliers, that additionally embrace Centrica, RWE npower and EDF Energy, face a shake-up from the end result of a contest watchdog investigation set to conclude in June.