npower to reduce electricity prices

npower has announced that it is to reduce its electricity prices by 8% from Tuesday 31st March. This means that customers’ electricity bills will come down by £43 on average.

As a result of these new prices npower’s monthly direct debit dual fuel tariff is more than £30 cheaper than that of British Gas.

Kevin Miles, CEO of npower retail, said: “Wholesale prices are still higher than in 2007 but we are determined to reduce prices for our electricity customers. This reduction follows our price cuts for gas pre payment customers in December. Gas and electricity pre-payment customers no longer pay a premium over our standard tariffs. We will continue to keep our costs and prices under review to ensure that we remain competitive and give our customers value for money.”