Moneysupermarket.com Group : Commenting on the price cut announcement from EDF Energy

"Hot on the heels of a three per cent reduction by Co-op Energy and OVO Energy's five per cent price drop announced last week, this morning EDF Energy has also made a cut to the cost of its standard energy bills.

"Effective 7th February, EDF Energy is decreasing the cost of standard gas by five per cent, this will mean an average reduction in bills of around £40 a year. Its 1.4m customers will now pay £1,202 a year on average for standard dual fuel when paying quarterly by cash or cheque. EDF Energy was already the cheapest standard gas and electricity provider out of the 'Big Six' energy companies after making the smallest increases in the round of price hikes we saw in 2011*.

"This price decrease is a welcome boost for bill payers reeling from the cost of Christmas, and no doubt piles on the pressure to the remainder of the 'Big Six' energy giants to also pass on the recent falls in the cost of wholesale energy. Now is the time for all of the energy giants to reflect these savings in customers' bills. Those struggling to make ends meet can make considerable savings by ensuring they're on the best energy tariff for their region and usage. With average savings of £250 to be had by moving from a standard tariff to the cheapest available product, currently offered by First Utility, it's iSave v9 tariff has average bills of £1,030 per year. Consumers should also think about reducing the amount of energy they use and being more energy efficient to help cut reduce the amount they spend on their bills (see tips below)."

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MoneySupermarket's top tips to minimise your gas and electricity bills:

Turn your thermostat down - now. By reducing your room temperature by just 1°C you could save an astonishing 10% on your annual heating bills.

Switch off and save. Don't leave electrical appliances on standby as it still uses power. Make it a nightly ritual to ensure all lights and appliances are off and watch those savings mount. For example, leaving your computer on 'sleep' means it is still using 75% of its energy.

Almost 25% of heat is lost via poorly insulated roofs. Invest in insulation - it is cheap and effective. What is more, many free grants are available from local councils for pensioners and those on low incomes.

Heating the whole house is justifiable for a large family but for working couples and singles, it is more cost-effective to heat only the rooms you use most. Invest in a low energy heater.

In the winter months, it pays to close all your curtains as soon as dusk sets - they keep the heat in and are one of the simplest and easiest ways of cutting back on heating bills.

Change to energy saving light bulbs. You can save up to £40 over the lifetime of the bulb.

Invest in a microwave oven. They are fast and efficient particularly for small families and singles and use a fraction of the energy of a conventional gas or electric cooker.

Watch out for draughts around doors (keyholes, letter boxes, gaps in doors and windows). Heat escaping your home is money wasted, so get yourself kitted out. Draught excluder packs are available from most DIY stores and for as little as £60. It is estimated that good draught exclusion around an average terrace can save as much as £25 a year, so it will soon pay for itself.

Double-glazing is pricey to install but will make a difference to bills over time. Heat loss through windows is cut by a whopping 50% - saving around £100 a year on bills.

Don't fill your kettle each time you go to make a coffee or cup of tea - only use the water you need. It will be quicker to boil and use less energy. It's a simple tip but makes a difference.

Take showers and not baths. While a hot bubble bath may feel like a treat, the cost of heating the water soon mounts up. A shower uses around a third of the water of a bath.

If you use a washing machine turn the temperature down to 30°C. Today's washing powders are so efficient they do not need to be used at high temperatures. Even better, get into the habit of hand-washing and just using your machine's spin function. It saves both time and money.

Don't forget elderly relatives or neighbours. The elderly are particularly vulnerable in winter months, so take time out to help them and make sure they can take steps to keep warm. Help an elderly relative or neighbour reduce their energy bills by helping them switch to a better deal and ensuring they are taking the necessary measures to heat their home for less. Customers over the age of 70 automatically qualify for FREE loft and cavity wall insulation which can save up to £250 off their annual bill. Help them get this installed by contacting their energy supplier(s) before the winter chill bites hard. 

Notes to Editors:

*

Price rises announced by UK energy companies Summer 2011

Provider	Gas increase (%)	Electricity increase (%)	Average Standard tariff	Date announced	Date effective
Scottish Power	19	10	£1,391.21	07/06/2011	01/08/2011
British Gas	18	16	£1,286.04	08/07/2011	18/08/2011
Scottish and Southern	18	11	£1,265.00	21/07/2011	14/09/2011
E.ON	18	12	£1,254.55	05/08/2011	13/09/2011
npower	16	7	£1,289.00	16/08/2011	01/10/2011
EDF Energy	15.4	4.5	£1,241.00	15/09/2011	10/11/2011
Average	17.4	10.08	£1,287.80

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