Energylinx UK Energy Industry News Service
February 6, 2009
Scottish and Southern Energy, domestic energy price cut
Scottish and Southern Energy have today, 6th February 2009, announced a price cut across its domestic electricity and gas tariffs that will see the average prices for customers fall by 9% on electricity and 4% for gas.
The price cut will apply to existing customers from 30th March 2009. This is the second major energy supplier to reduce domestic energy prices within the last few weeks.
At this time of year any price cut will be welcome boost to consumer finances. From Jan 2003 to Jan 2009 we have seen an average price increase in domestic gas prices of 169%. This has taken the average gas bill from £309 per annum up to a staggering £833 per annum.
In 2008 alone, we saw the average price of domestic gas increase by 49% across all suppliers throughout the UK.
Although forward annual electricity and gas wholesale prices have been falling in recent weeks they remain at relatively high levels, being 46% and 51% respectively higher in January 2009, compared with January 2007.
The question remains how sustainable any price cuts made by suppliers will be in the long term.
Consumers are well advised to make sure that they do compare all energy suppliers and look carefully at the online energy deals as they are still very much the cheapest option often being up to 17% than the equivalent standard energy tariff.
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