EDF And Scottish Power To Cut UK Power Prices

EDF Energy is cutting its residential gas prices in Britain, the French-owned firm said, following a string of reductions by its main rivals

EDF Energy is cutting its residential gas prices in Britain from mid-June, the French-owned firm said on Monday, following a string of reductions by its main rivals.

Gas prices for standard EDF Energy customers will fall by 10.2 percent from June 15, the company said. Electricity prices, however, will remain the same. EDF said it had the smallest electricity rise of any of its competitors last year.

Customers who use EDF Energy for both gas and electricity stand to see a reduction in energy bills of more than 63 pounds ($126) a year following the price decrease, the company said.

Separately, Scottish Power said it was to cut residential gas prices by up to 16.5 percent and electricity prices by up to 5.5 percent from June 15.

Scottish Power, owned by Spanish power utility Iberdrola, said in a statement a typical customer's direct debit bill would fall 75 pounds per year to 836 pounds.

Last Thursday, British Gas, Britain's biggest domestic energy supplier, cut its residential electricity and gas prices.

Rivals Npower, owned by Germany's RWE, Powergen, owned by E.ON and Scottish & Southern Energy (SSE) have also announced plans to cut their standard tariffs.