British Gas cuts gas prices by 7%

British Gas has cut its standard gas prices by 7% with immediate effect, in a move that could convince other suppliers to follow suit.

The cut will reduce the financial pressure on many billpayers, especially those in debt on their account.

8 million households will benefit from the price cut, at an average saving of £55 a year, according to British Gas` parent company Centrica.

A spokesperson for debt management company Gregory Pennington said: "Any fall in energy prices is good news for billpayers, and based on past experience we would expect to see other providers also cutting prices in the near future.

"At a time when energy usage is high, more people may find themselves in arrears on their energy accounts, and this price drop could give billpayers an opportunity to repay some of that debt.

"However, we still advise anyone in arrears to discuss how the debt can be repaid with their energy provider - and if that isn`t successful, the billpayer should discuss their options with a debt adviser."

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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.