Energy price cuts ahead

Major energy companies that are yet to cut their prices have said they are ‘optimistic’ that gas and electricity prices will be cut soon.

Senior figures from EDF Energy, E.On and Scottish Power told MPs that price cuts could take place soon, although they would not make firm predictions as to exactly when, while NPower was, as the BBC puts it, ‘non-committal on cuts’.

The two other major providers, British Gas and Scottish and Southern Energy (SSE), have already announced energy price cuts this year.

A spokesperson for debt management company Gregory Pennington said: “Many billpayers feel that energy price cuts are overdue, so this announcement will be welcomed by customers.

“However, the price cuts that have been made so far have fallen far short of the overall rises in 2008, and many billpayers – especially those with debt problems – may be struggling to meet their costs. We advise anyone in that situation to seek debt advice as soon as possible and discuss their options.”

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.