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Chris Huhne welcomes plans by EDF to cut energy bills
1:31pm Wednesday 11th January 2012 in News
ENERGY Secretary Chris Huhne has welcome a major energy company's plans to cut its gas bills by five per cent.
EDF Energy increased gas tariffs by 15.4 per cent in November but said wholesale costs had fallen by nine per cent since then, prompting the cut from February 7.
The move is expected to spark reductions by rival suppliers.
Consumer groups called on other firms to follow suit after a prolonged period of price rises since the last round of tariff cuts in spring 2010.
EDF, which was the last of the major suppliers to raise prices in the autumn, said fair tariffs were vital to "address the issue of consumer trust".
It said its average bill for a dual fuel customer with typical consumption paying by monthly direct debit will be £1,129 a year, compared with the current £1,218 a year for British Gas.
Cabinet minister Mr Huhne, MP for Eastleigh, said: "Households have faced real difficulties this winter after last year's global gas prices pushed up bills. The situation is now changing, with the cost of gas imports falling, and I welcome that EDF have today responded, joining small suppliers Coop and Ovo, by cutting domestic gas bills.
"Some big energy suppliers were quick to pass on rising costs last year, and it is only right that they should now pass on cost reductions to hard-pressed householders as quickly as possible. I urge the remaining five large energy suppliers to follow suit and give consumers some respite this winter. If suppliers do not reduce prices, consumers can send them a clear message by voting with their feet and taking their business elsewhere."