EDF Energy is ready to spark a price war between suppliers after announcing they’ll be reducing gas bills by 5%. For the UK’s average customer this is £38 and will come into effect from February 7.
This reduction will affect 1.4 million customers in Britain and comes after there was a fall in wholesale prices due to the mild winter. In November EDF Energy raised prices by 15.4%, pushing many homes onto the brink of fuel poverty.
In order to compete with these lowered prices, other energy suppliers are also expected to drop down. However, there’s been no announcement of any future cuts in electricity prices.
Chief Executive of EDF Energy, Vincent de Rivaz, said: “What customers want more than anything else is fair, clear and transparent prices. We know they want action rather than words. That is why we are the first major supplier to announce a cut and were the last to increase prices.”
With the price of energy set to be reduced in the coming months, it’s the perfect opportunity to combine your savings with energy efficient double glazing. Double glazing helps to reduce energy bills by restricting heat loss. So not only will you see a reduction in wholesale prices, but double glazing will cut hundreds of pounds from your bills every year.
If your home is already fitted with A-rated efficient glazing, why not look at a new boiler to save energy and money. Old boilers can work at just 70%, and installing a new combi boiler will save you around £300 a year.
Boilers are expensive when something goes wrong, so if yours is more than 15-years-old, you should definitely look at the alternatives. Biomass boilers can be particularly money saving as they use renewable products to run.
So whether it’s double glazing or a new boiler, ensure you invest in an energy efficient home improvement to reduce your bills and cut your home’s carbon footprint.