npower cuts gas prices

npower have announced reductions in domestic gas prices for approximately 2 million standard domestic gas customers averaging 7% or £50. These cuts will take effect from 26 March 2010.

Monthly Direct Debit (MDD) gas customers will receive £50 a year discounts, up from £20. MDD electricity customers will receive £40 for their annual discount, this is equivalent to an additional 4.8% reduction on their annual electricity bill.

Additionally npower has introduced a new discount of £10 per year for Dual Fuel customers who pay on receipt of bill.

Kevin Miles – CEO of npower retail said: "We always aim to offer competitive prices to our customers and we have lowered our gas prices although our profits halved in 2009. The combined profit from supplying nearly 6.8 million accounts and operating nine power stations was equivalent to just 9p a day for each customer account."