SSE to slash gas prices by 4.1% from end of April

Energy company SSE has revealed that it will cut its domestic gas prices by 4.1% from 30 April.

The group, which is the fifth of the Big Six energy firms to cut gas prices, estimated that it would save British households around £28 a year.

However, SSE also said it would extend its guarantee not to increase its gas and electricity prices until July 2016.

Energy providers have been under pressure to make reductions, after wholesale gas prices dropped around 20% since the end of November last year.

"Customers are at the heart of SSE's business, and our work to secure their energy supplies in wholesale markets last spring enabled us to guarantee that prices would not increase until at least January 2016, showing we are committed to treating all of our customers fairly and to giving them stable prices over the long-term," said Alistair Phillips-Davies, CEO of SSE.

"We're being true to that commitment with a 4.1% reduction in the typical gas bill and an extended guarantee, meaning gas and electricity prices won't go up before July 2016 at the earliest.

"The challenging business environment we identified at the start of this financial year is likely to continue into the new financial year and we believe that addressing the resulting issues directly is the right thing to do for customers and the best way of safeguarding the interests of investors.

"That is why, at the same time as reducing tariffs for customers, we're continuing to make sure our own house is in order for the future, with a clear focus on our value programme to make sure SSE is well-positioned for the long term."

France's EDF is the only one of the big six yet to announce price cuts.