The company pointed out it was the first major retailer to lower gas prices this year and the last to raise them last year. It said the 5 per cent gas price cut meant its standard dual fuel prices would be cheaper for average users than any of the other big firms.
EDF has been under fire recently after its billing system upgrade led to customers facing long wait times and unable at times to pay bills or contact the firm during evenings and weekends. As a result, complaints levels have soared. The company though has said the problem is temporary and suggested that customers valued competitive pricing above all.
“What customers want more than anything else is fair, clear and transparent prices,” said CEO Vincent de Rivaz. “We know they want action rather than words.”
EDF’s move was welcomed by consumer groups and follows recent reductions by Co-operative Energy and Ovo Energy. Both smaller suppliers have made promises to pass on savings to customers when wholesale prices fall and base their businesses on simple tariffs.