The independent green energy company says it is keen to pass on a price reduction to customers “as soon as it can” and expects to save them up to £42 per year.
Last week, Eon was the first of the big six energy companies to cut its standard gas tariff by 3.5 per cent with immediate effect.
British Gas and Scottish Power followed suit earlier this week, announcing they would slash their gas bills by 5 per cent and 4.8 per cent respectively. However, cuts for both companies won’t come into effect until the end of February.
Ecotricity founder Dale Vince claims his company’s price cut is unique as it has one gas tariff for both new and existing customers, meaning “the cut is for everyone”.
The last of Ecotricity’s hedges comes to an end in April, giving the company access to lower wholesale prices which it says may result in further cost reductions for its customers.