npower's re-pricing of Sign Online rates

Commenting on today’s re-pricing of npower’s Sign Online rates, Paul Schofield, head of utilities at price comparison website moneysupermarket.com, said:

“npower is the first of the big suppliers to cut their prices following the significant falls in wholesale gas prices which began last summer. However, this reduction applies only to online customers therefore cuts are needed across npower’s full range of products so its prices accurately reflect what consumers should be paying for their energy. And other providers have shamefully still to act at all.

“Following the launch last week of its wholesale tracker product, npower’s online tariff reduction equates to an average saving of 6.47 per cent for a dual fuel customer. Though smaller than we would hope, given the low wholesale price of gas, this price cut puts npower in pole position for energy prices, with the average customer now paying £823 per year for their gas and electricity. British Gas, which earlier this month increased its Click Online tariff, would charge £959 for the same services, 17 per cent more than npower.”

moneysupermarket.com is making a stand to help these people ditch their expensive power companies and get the cheapest energy deal by offering £30 cash-back to all customers swapping to a dual fuel tariff through its service. Those not going for a dual fuel tariff but changing a provider or tariff will benefit from a single £17.50 payment.