Energy price war pushes down cost of electricity and gas

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Those looking for the cheapest energy tariffs online may be interested to hear that the cost of electricity and gas at two major suppliers has been slashed.

According to industry experts, the moves by British Gas and E.ON to slash the cost of their dual fuel energy tariffs could be the beginning of a price war.

The price cuts are the latest evidence that now could be a good time to use online price comparison sites to switch suppliers.

However, consumers have been urged to be wary, as the latest cheap deal from E.ON is a fixed-price tariff that runs until December 2010.

Money website Financial Advice said: "Many homeowners in the UK may well be wary of such long-term price fixes as a great number were apparently caught out when energy prices peaked last year and significant numbers of UK households are still locked in at higher prices."

However, Pierre Gadonneix of the French energy firm EDF said recently that electricity bills are likely to rise by a fifth to pay for new nuclear power plants in the UK – making fixed tariffs and attractive option.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

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