E.ON and Scottish Power complete ‘big six’ reductions


thermostatThe middle of January has got to be the most depressing time of the year.

By now your New Year's resolutions have potentially fallen by the wayside and the financial fallout from Christmas leaves many of us on threadbare budgets until the first pay cheque of the year finally arrives.

But families have been able to draw some cheer from an unlikely source, as all of the energy providing giants have now pledged to cut their tariff costs!

ScottishPower has become the last of the 'big six' energy providers to slash prices, following hot on the heels of E.ON - which anounced its reductions on Monday afternoon.

Around 1.4 million ScottishPower customers are expected to benefit from the new pricing from next month, as costs fall by an average of 5%.

This is expected to save around £36 a year for certain customers, showing the importance of shopping around for the best deals to save cash.

Neil Clitheroe, ScottishPower's CEO of Energy Retail and Generation, said: "Our customers want competitive prices from a responsible supplier.

"We understand that household budgets are tight in these tough economic times and with this in mind we are pleased to be able to pass on lower prices and help our customers when we can. In October, we pledged not to increase standard prices for gas and electricity over the winter months, extending until at least April 1, 2012."

Meanwhile, E.ON customers can expect a 6% decrease in their electricity bills.

Although all of the UK's largest suppliers have now offered discounts, none of them are offering cuts across both gas and electricity. So it's a good idea to evaluate what your household uses most, what deals are available and get yourselves on the one that will save you the most money as soon as possible.

Do you find the prospect of switching energy supplier a daunting prospect? It's easier than you think.