British Gas is to cut gas prices by 5%.

Dur to come into effect on 27 February, the price cut reflects the recent fall in wholesale gas prices.

Iain Conn, Chief Executive of Centrica, said: "We've been watching the significant moves in the international energy market extremely closely for some time, with the aim of helping customers with a price cut at the earliest possible opportunity. Operating in such a volatile market, no pricing decision is straightforward.


"We bear the responsibility of managing the risks of buying energy ahead on behalf of our customers, who value the predictability this brings. Taking this decision now, at a time of continuing uncertainty, shows our absolute commitment to pricing competitively, with customers at the forefront of our minds."

(CD)