Senior Conservatives are reported to have held talks with energy companies and believe they have secured agreement that if the largest levy, the Energy Companies Obligation (ECO), is removed.
The move would lead to immediate cuts in prices of up to seven per cent would be announced. A deal, which would allow average saving of as much as £75 a household, could be struck before Christmas.
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The company posted a 63.5% plunge in bottom line pre-tax profits to £176.4 million on a comparable 52-week basis.