British Gas, the UK’s biggest household electricity supplier, is cutting electricity prices by an average of 10 percent, its parent Centrica said on Thursday. The price cut, which comes after British Gas reduced gas prices in February, will take effect immediately and apply to some 4.5 million residential customers, Centrica said. Centrica said the price cuts are a result of falling wholesale electricity prices. All the six major U.K. energy suppliers, Centrica, RWE’s nPower, E.ON, EDF, Scottish & Southern and Iberdrola’s Scottish Power — increased prices last year, although some have since reduced them. “I’m pleased we are now able to cut an average 10 percent from our standard electricity prices and continue to help our customers during this economic downturn,” said Managing Director Phil Bentley.

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