Energy company SSE said it is freezing electricity and gas prices for its customers until 2016, after it announced an 8.2% energy price rise back in October.
The firm said that by cutting hundreds of jobs and shelving three offshore wind farm projects, it should be able to save up to £100 million.
It argues that the price freezing has been made possible by the government lowering taxes on bills, which had already allowed the company to cut dual fuel bills by 3.5% after the increase. The deal will be offered to customers on the standard tariff between March 26 and January 1 2016.
SSE’s CEO Alistair Phillips-Davies told the BBC, “We’re looking to do whatever we can to bring down prices for consumers.
“I hope that people will start to recognise SSE is not part of the problem but part of the solution”.
Energy secretary Ed Davey welcomed the news, saying that this shows the usefulness of the government’s moves to increase competition and keep energy bills low.
“This shows that the Big Six are starting to realise they need to take big action if they want to keep their customers, who have been switching supplier in record numbers”, Davey said, adding that customers of other suppliers should ask other firms to follow suit.
“SSE have shown today that the big energy firms are able to cut their costs and profits, and be confident about their ability to weather potential uncertainty in the wholesale markets, to give billpayers long-term price security”, he added.
Labour leader Ed Miliband sparked a debate last September, when he announced that his party would have frozen energy prices if elected, in order to help consumers face the “cost of living crisis”.
Like our Facebook Page
Infographic: Fighting The Environmental Impact Of Face Masks
10 Perfect Zero Waste Christmas Gifts To Give This Year
10 Simple Home Improvement Tips To Create A Green Home Environment
Business Initiatives: Ways to Preserve the Environment
Ultra Simple Guide to Consumer Solar Panel Installation
7 Very Important Steps to Become an Eco-Friendly Dog Owner
The Unbelievable Car Insurance Perks of Being an Eco-friendly Car Owner
5 Very Important Sustainable Guidelines for Home Renovations
9 Essential Elements of Success for Eco-Friendly Food Trucks
Comprehensive Analysis of the Environmental and Financial Benefits of Hybrids
Implementing the Best Sustainable Construction Practices with Timber
An Important Look To The Future of Green Construction
The Triumphant Turnaround of Tesla Motors
4 Eco-Friendly Ways to Invest in Your Business
The Terrifying Effects of Polyester on the Environment and Our Health
Understanding the Horrifying Hazards of E-Waste 101
The Terrifying Environmental Footprint Of PPE Disposals
Sustainability is Transforming the Diamond Industry
Massive Technological Advances Create a New Era for Sustainable Farming
4 Sustainable Real Estate Renovations to Complete Before Renting Your Home
- Editors Choice10 months ago
10 Green Companies With Amazing Environmental Initiatives
- Environment11 months ago
How You Can Celebrate An Environmentally Friendly Christmas Or Holiday
- Features10 months ago
5 Sustainable Home Improvement Ideas To Improve Your Home’s Value
- Environment11 months ago
Simple Hacks to Slash Your Environmental Footprint for the Holidays