A source from one of the leading six energy firms in the UK told the newspaper: "I don't think anybody is looking at bigger cuts than that. Our retail business is still operating at a loss and will continue to make a loss."
The publication also reports comments from a separate source, which claims the price reductions will "certainly" not be on the same scale as the increases experienced by consumers across the UK.
The firm claims the rates will save customers around £22 a year.
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.