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.

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"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)