E.ON chief executive hints at price drops

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E.ON has hinted that it could be set to reduce its gas and electricity prices for consumers across the UK.

The company, one of the leading energy firms in the UK, said it hoped to reduce prices "as soon as it is able", depending on the continued fall of wholesale energy prices.

Paul Golby, E.ON UK chief executive, said in a statement the drops would be seen "next year".

He added: "We're obviously very aware of the difficulties our customers are experiencing, especially considering the current economic problems and we're monitoring wholesale prices closely in the hope of making this move."

Earlier this week, British Gas announced it was reducing its energy prices for customers on dual fuel prepayment meters from next month.

The firm claims the new rates, due to come into effect on December 18th, will save the average household £22 per year.

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