1. Q2. Why is npower reducing prices. A2
Q2. Why is npower reducing prices? A2. We are reducing gas prices because of reductions in gas wholesale prices.
Q3. By how much are you cutting gas prices? A3. Standard tariff annual gas bills are being reduced by on average 5.1% or an average £35
Q4. Why only gas prices? A4. It’s gas wholesale prices that have decreased enough to allow us to reduce our gas retail prices.
Q5. How many customers will see their gas bills reduced? A5. Approximately 1.3 million customers (dual fuel and gas only).
Q6. Why are gas prices not coming down in-line with falls in wholesale costs over the previous year? A6. Energy suppliers buy their energy well in advance, months even years ahead. Like other suppliers we are playing catch-up with falls in the wholesale market, where we have saved money so do our customers.
Q7. But according to ‘experts’ you make £billions in profits and can afford more? A7. Not sure where the ‘experts’ get their information from! Our published quarterly figures show clearly that our profits are decreasing
Q8. Would the reduction have been bigger if Labour hadn’t announced a price freeze? A8. Political factors have become increasingly significant when calculating changes to prices. Any changes we make to prices today we possibly have to live with for the next two years. This represents a significant risk to our business.