Gas price cut

British Gas has announced that it will cut gas prices by 10%.

Unfortunately the price cut will not come into affect until 19 February 2009 which will mean that the winter will almost be over (hopefully) by the time the price cut comes into force. There are hopes that the price cut will lead other power companies to reduce their prices in the near future.

Strangely the power companies used the high price of oil as an excuse to increase their prices significantly but although the price of oil has fallen significantly from its peak in the summer British Gas is the first company to introduce a price cut.