British Gas has cut its customers’ electricity bills by 10%.

British Gas – the last of the major suppliers to cut its electricity prices – has cut 10% off its customers’ electricity bills, claiming it is now the cheapest supplier in Britain.

The company, part of Centrica, supplies energy to one in every four homes in Britain and states that the price cuts will result in electricity rates as much as £111 lower than locals suppliers, while dual-fuel customers paying by direct debit will have the lowest bills in the UK – saving around £132 annually.

Effective immediately, the 10% cut has been enabled because of a drop in the cost of wholesale electricity prices, and follows British Gas’ 10% cut in gas bills in February of this year. Phil Bentley, Managing Director, said: “British Gas is offering existing and new customers the cheapest electricity rates in the market place. 

“We want to do what we can, when we can, for our customers. When we were able to cut gas prices earlier this year, we did.  And I’m pleased we are now able to cut an average 10% from our standard electricity prices and continue to help our customers during this economic downturn.”

EDF Energy, E.ON and Scottish Power reduced their customers’ electricity bills in February, while Scottish & Southern and npower reduced their prices in March.

For more information about the company’s energy pricing, visit the dedicated section on its website: http://www.centrica.com/index.asp?pageid=605