EDF Energy to cut gas prices by 5%

By Neal Wallace

EDF Energy, one of the UK's largest energy suppliers, has said it will cut its gas bills by five per cent from February 7th.

The firm's move comes after suppliers saw a sharp fall in wholesale gas prices over the winter due to the mild weather. EDF has become the first major company to cut bills, but the move is likely to be followed by other energy companies.

In November, EDF followed a number of other energy providers in hiking its prices by 15.4 per cent.

Vincent de Rivaz, EDF's chief executive, said that fairness is the thing that customers value the most.

"We know they want action rather than words. That is why we are the first major supplier to announce a cut and were the last to increase prices," he added.

It was recently revealed that the so-called 'big four' energy firms received around four million complaints from consumers regarding mistakes on their bills.