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Smaller power firms rival Big Six with significant cuts in gas price war

Smaller energy firms have squared up to the Big Six amid an ongoing gas price war - with Ovo announcing a hefty 10.4 per cent price cut.

It comes after EDF came under fire for announcing a cut in tariffs of just 1.3 per cent - significantly below the wholesale price drop of 19 per cent.

It comes after British Gas announced a five per cent cut in prices, E.ON reduced tariffs by 3.5 per cent, Scottish Power announced a 4.8 per cent drop in prices, npower revealed a 5.1 per cent cut and SSE announced a 4.1 reduction.

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Energy firm E.ON reduces gas prices by 3.5%

Energy supplier E.ON is to reduce its standard gas price by an average of 3.5 per cent with immediate effect.

The company, which has 4.5 million household customers, said the move is equivalent to £24 off the average annual gas bill, or two weeks' gas use.

Energy supplier E.ON is to reduce its standard gas price by an average of 3.5% with immediate effect Credit: PA

E.ON also launched what it said was the country's cheapest energy tariff, a new one-year fixed dual-fuel product with an average annual price of £923.

The move increases the pressure on the other Big Six energy suppliers - British Gas, SSE, Scottish Power, EDF and npower.

E.ON UK chief executive Tony Cocker said: "Given the possibility of a price freeze, we are undoubtedly taking a risk today but we always put our customers first."

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