Ian Marchant from Scottish & Southern Energy (SSE) told the Times there is no reason to suggest why energy prices should not be reduced for UK consumers over the "next few weeks".
His claim comes despite the dispute which has resulted in rising wholesale prices and shortages across areas of central Europe.
Mr Marchant also announced the SSE was looking at possibly purchasing two of EDF's power stations, at Eggborough in South Yorkshire and Sutton Bridge in Lincolnshire.
He told the newspaper: "Yes, we will look at them. These are the sorts of assets we have always looked at."
It was recently reported in the media that all of the big energy firms are expected to follow in the footsteps of ScottishPower and reduce their gas prices.
The energy firm launched a cheaper tariff earlier this week, offering consumers a ten per cent reduction on current gas prices.
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