While it is a welcome surprise, a 3.3 per cent price drop - that's just £25 for most customers - isn't earth-shattering, especially following the record energy price hikes of last year. However, it will hopefully encourage more competition in the market and mean other providers will also reduce their prices. The removal of the standing charge for pre payment meter customers should also give reason for some cheer.

"This price cut is for E.ON's gas customers only and follows the nine per cent price cut for its electricity customers in March this year. Despite this move from E.ON, British Gas' Websaver 3 tariff remains the cheapest on the market at £1,018.

"For anyone who has never swapped provider and is languishing on a standard tariff, there are savings to be made now by shopping around for the best tariff to suit you. Swapping your payment method will reduce your bills too - paying by monthly direct debit will offer more competitive rates than settling bills by quarterly cash or cheque."

By moneysavingsupermarket.com

The Price Comparison Site

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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