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British Gas set to cut energy prices by 5%

The UK’s largest energy supplier, British Gas, has officially announced that it plans to reduce household gas prices by 5%, cutting annual energy bills on average by £37.

The 5% reduction in standard tariffs will benefit 6.8 million customers, including all customers on British Gas Fix & Fall tariffs, from 27 February.

British Gas reveals that the price cut reflects the recent fall in wholesale gas prices. According to the company, though most of the gas being used in customers’ homes today was bought at higher 2013/14 prices, wholesale costs for 2015 are now reducing to a level where the supplier can pass this reduction to our customers.

Iain Conn, Chief Executive of Centrica, said: “We’ve been watching the significant moves in the international energy market extremely closely for some time, with the aim of helping customers with a price cut at the earliest possible opportunity. Operating in such a volatile market, no pricing decision is straightforward.

“We bear the responsibility of managing the risks of buying energy ahead on behalf of our customers, who value the predictability this brings. Taking this decision now, at a time of continuing uncertainty, shows our absolute commitment to pricing competitively, with customers at the forefront of our minds.”

While the cut in energy prices will certainly be welcomed by all British Gas customers, the truth of the matter is that being proactive in one’s energy spending and implementing a solid energy management system could prove to be a significantly better approach on the long-term.

The HeatingSave Building Energy Management System helps customers save more than 30% on their bills by optimizing any heating system’s overall functionality. This is done by taking into account a variety of factors, such as internal and external temperatures, occupancy, time of the year, the particular characteristics of installed boilers, etc.

All of the data is used in order to determine the best heating patterns for the various heating zones within any building, using our proprietary heat-loss algorithm.

The end result is that users still get a very good level of comfort, while in the same time saving energy and money in the process.

If you’d like to find out more details on all the features HeatingSave has in store, just contact our dedicated product team, they’ll be more than happy to provide you with all the necessary information.

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