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Two more energy providers announce gas price cuts

EDF and British Gas are the last of the Big Six to cut their gas prices. Credit: PA

EDF Energy and British Gas have become the latest energy suppliers to cut their gas prices.

British Has announced a 5.1% reduction by March 16, while EDF said they would slash their rates by 5% from March 24.

The companies follow suit of Npower, E.ON, Scottish Power, SSE, who have all announced cuts of more than 5% in the past month.

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Npower to cut standard gas tariff prices by 5.2%

Npower is cutting its standard domestic gas tariff Credit: PA

Energy firm npower has announced a 5.2% reduction in its gas prices effective from 28 March 2016.

This will lower standard domestic gas tariff prices by an average £32 a year, according to the firm.

The savings will apply to both new and existing customers and 1.2 million will benefit from this price cut, a statement on its website said.

This cut in gas prices is welcome news for many of our customers. We have balanced the wholesale price fall against increases in the other costs we are charged.

– Paul Coffey, chief executive of npower

It follows similar cuts from rival Big Six providers SSE and E.On last month.

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Bills 'could rise to fund £250bn infrastructure cost'

Consumers could be hit with higher energy bills to help fund huge spending on infrastructure projects, an influential cross-party committee of MPs has warned.

The committee says there is £375bn worth of projects slated for the next 15 years, with private companies liable to pass on costs to their customers.

The chair of the Public Accounts Committee, Margaret Hodge, said: “It is the consumer - through their various bills - that is expected to fund at least two thirds of this investment where the infrastructure is financed, built, owned and operated by private companies,”

Government: Already helping firms 'get fairer deal'

The Department for Energy and Climate Change said that a cross-industry working group had already been set up to address key issues of concern, including improving options for repaying back-dated bills.

Small businesses deserve a fairer and more transparent energy market to help ensure they are getting the best energy deal.

Today's announcement of the first ever market reference for the energy market will help small businesses as well as householders get a fairer deal on their energy.

– DECC spokesman

Govt 'doing everything' it can to tackle fuel poverty

The Government is "doing everything within its power" to combat fuel poverty, according to a spokesperson for the department of Energy and Climate Change

The spokesman claimed the Energy Companies Obligation scheme, extra funds for energy efficiency programmes and the winter fuel allowance would help those who could not afford to heat their homes.

The Government is doing everything within its power to help hard-pressed families keep their energy bills down.

In December, we announced plans that will save customers around £50 on their energy bills, protecting support through the Energy Companies Obligation scheme for vulnerable households, extending the scheme for an extra two years and making an additional £450 million available to make Britain's homes more energy efficient.

– A Department of Energy and Climate Change spokesman

Miliband: Energy prices 'unfair' to small businesses

Ed Miliband is due to say today:

It is unacceptable that companies like yours do not have even basic protections that are available to households under the law from unfair energy contracts.

– Ed Miliband

Labour would also give business organisations like the FSB new legal rights to take cases - such as late payment by firms or government departments - to court on behalf of their members.

It would also invite the FSB to join Which? and Citizens Advice in helping to set the agenda for the Competition and Markets Authority's investigations to ensure markets were working properly in the interests of consumers and businesses.

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