Energy firm E.On has announced it is lowering its electricity prices by 9% for most of its customers. E.On says 4.1 million households will benefit from the reduction, which comes into effect on 31 March. It is not reducing its gas prices. E.On said it knew its customers were facing a difficult time and it continued to monitor the market. The move follows price cuts by competitors British Gas and Scottish & Southern Energy. British Gas is to cut its gas prices by 10%, effective from 19 February. Scottish & Southern will cut the price of electricity by 9% and gas by 4% from 30 March. A spokeswoman for E.On said it was not reducing the price of gas because it had “offered one of the lowest prices for gas throughout the winter months when our customers have needed to use more gas to heat their homes”. “Electricity usage is far more stable throughout the year and we feel our customers will benefit more from this decrease as we approach the warmer months,” she said.

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