SSE to Cut Gas Prices by 228 from April
Savings for Households and Businesses
SSE, one of the UK's largest energy suppliers, has announced plans to reduce its gas prices by 228 from April 1, 2024. The move will save the average household hundreds of pounds on their annual energy bills. Power NI, which is owned by SSE, will also be cutting its electricity prices.
Rising Gas Prices
The announcement comes amid rising gas prices in the UK. According to trading on a contract for difference (CFD) that tracks the benchmark market, UK gas has increased by 295 GBpThm or 366 since the beginning of 2024. This increase has been driven by a number of factors, including the war in Ukraine and the global energy crisis.
Impact on Consumers
The cut in gas prices from SSE is a welcome relief for consumers who have been struggling with rising energy costs. The average household in the UK spends around £1,300 per year on gas and electricity. The price cut from SSE will save these households an average of £228 per year.
The cut in electricity prices from Power NI will also provide some relief for consumers. Power NI customers will see their electricity bills reduced by an average of £60 per year.
Government Response
The UK government has welcomed the announcement from SSE. The government has been under pressure to take action to help consumers with rising energy costs. The government has already introduced a number of measures, including a £400 discount on energy bills for all households and a £150 council tax rebate for households in council tax bands A-D.
The cut in gas prices from SSE is a positive step towards helping consumers with rising energy costs. The government should continue to monitor the situation and take further action if necessary.
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