npower cuts electricity prices on SOL 11

Commenting on npower cutting its electricity prices by 6.2 per cent on its SOL 11 tariff, Scott Byrom, utilities manager at moneysupermarket.com, said: "At a time when the big six energy giants are more likely to consider price hikes, a move to cut energy bills may come as a surprise to some. However, the online dual fuel market is bucking the trend and we are seeing two big players - npower and British Gas - jostling for the top spot to offer the best online deal for customers.

"In an environment when wholesale gas prices are rising, npower has trimmed electricity prices by 6.2 per cent meaning its SOL 11 deal is now the cheapest tariff on the market at a cost of £862 a year for new and existing customers. This undercuts the Click Energy 5 online dual fuel deal from British Gas, which reduced in price at the beginning of this month. The race to be crowned king of the online dual fuel market isn't over and it is likely we could see British Gas retaliate with a further price drop to regain its number one position.

"Competition in the energy market can only be good news for the consumer with online dual fuel tariffs offering savings of over £150 compared with a standard deal. Anyone still languishing on a standard deal would do well to change to a more cost-effective tariff.

"In the short-term online deals offer the greatest savings, however fixed deals should be considered by those looking for long-term security on their energy bills."