British Gas, the biggest supplier of electricity to homes in Britain, has cut an average 10% off its standard electricity prices.

The price cut for 4.5 million customers takes effect immediately.

British Gas's electricity rates are now as much as £111 lower than the local supplier. British Gas's dual fuel prices for customers who pay by monthly direct debit are now, on average, the cheapest in the UK. The average annual dual fuel bill for a British Gas customer is now £1,127.

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The price cut follows the company's 10% cut on gas prices, which took effect on 19 February this year.

Managing Director, Phil Bentley, said: "British Gas is offering existing and new customers the cheapest electricity rates in the market place.

"We want to do what we can, when we can, for our customers. When we were able to cut gas prices earlier this year, we did. And I’m pleased we are now able to cut an average 10% from our standard electricity prices and continue to help our customers during this economic downturn."

(CD/JM)