E.ON announces electricity price cut of 9%

E.ON has announced it will decrease electricity prices for the majority of its residential customers, effective from 31 March 2009.

Graham Bartlett, Managing Director of E.ON's Retail business, said: "We are delighted to announce today that we'll be reducing our electricity prices for millions of customers, while also having maintained one of the cheapest gas prices throughout the coldest winter in over a decade.

"We know our customers are facing difficult times and we are continuing to monitor the market to ensure the prices we offer our customers are as competitive as possible."

E.ON's gas price remains cheaper than British Gas' post-decrease prices

Despite the fact that E.ON has not announced a gas price decrease, on average, its gas prices remain cheaper than British Gas' post-decrease prices.

Protecting vulnerable customers

E.ON's commitment to protecting its most vulnerable customers has seen the company double its social investment to £13.2 million in the last year and Ofgem has recently revealed that E.ON spent more per customer account on its social programme than any other major energy supplier in 2007/08.

E.ON has also today announced the expansion of its ‘E.ON WarmAssist social product, to provide additional help to its vulnerable older customers with prepayment meters.

The move follows the launch of E.ON WarmAssist for customers with standard meters in December last year and allows E.ON's existing prepayment meter customers who are in fuel poverty to benefit from its cheapest prepayment product.

Customers aged 60 or above who are in receipt of Pension Credit will receive the equivalent benefit to standard WarmAssist customers - 15% off E.ON's standard electricity and gas prices. To provide help this winter, this includes an immediate rebate of up to £70 for existing prepayment meter customers who sign up to WarmAssist before 31 March 2009.

Investing in the UK energy infrastructure

E.ON is investing billions of pounds in schemes designed to keep the lights on, reduce carbon emissions and to keep bills as affordable as possible. As part of that programme, E.ON is investing over £200 million in a gas storage scheme in Cheshire which will help E.ON smooth out some of the volatility in wholesale gas prices. It is also currently building the £500m Isle of Grain gas-fired CHP plant in Kent and the £325m Robin Rigg offshore wind farm in the Solway Firth.