British Gas, one of the the biggest suppliers of gas and electricity to homes in Britain, has today announced an average five per cent reduction in its standard domestic electricity prices.

The price cut takes effect immediately and re-establishes British Gas as the cheapest major standard electricity supplier, on average, in Britain.

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All 5.3 million British Gas single rate electricity customers on a variable tariff will benefit from the price reduction, each saving an average £24 on their annual electricity bill. In a full year, British Gas electricity customers will save more than £100 million.

Ian Peters, Managing Director, Energy, at British Gas, said: "We want to keep prices as low as possible for our customers. Household budgets are stretched, and we are doing everything we can to help our customers keep their bills down.

"This price reduction means British Gas is once again offering the cheapest standard electricity, on average, of any major supplier."

(CD/GK)