After EDF Energy’s confirmation of their price cuts, other gas firms are soon following suit. It was only a year and a half ago that the big six pushed their prices up to a staggering 20%.
In the end, four of the big six are cutting their charges. EDF would cut their gas bills from 7 February by up to 5%. Scottish & Southern Energy (SSE) will follow with a 4.5% cut by 26 March effectively, while N Power promises a 5% cut from 1 February.
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From February 7, 2012 onwards, EDF Energy will cut its gas prices by 5 percent. Making them the cheapest dual fuel and electricity supplier in the country.
EDF is the first of UK energy suppliers to announce its price cut. “Today’s price cut is further evidence of our commitment to be fairer, simpler and more transparent. This is vital for consumer trust. We are working on a range of further steps as a responsible energy company to continue to build trust,” said Vincent de Rivaz, Chief Executive of EDF in a statement.
The company was the last of the “Big Six” that increased their tariffs who made their change on November 10 of last year. This has fueled further concern that a significant number of households would not be able to see through the harsh winters the UK customarily has.
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Sunlight abundantly present in the North African deserts will become part of a $400bn German-led project into solar energy harvest. Known as the “reference project” based in Morocco, Desertec Industrial Initiative (DII) is backed up by fifteen independent countries and corporations such as EON, HSBC and Morgan Stanley, who have joined this enterprising project in order to increase the chances of finding alternative clean energy.
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A study carried out by the combined efforts of Leeds University and Marseille’s Euromed Management School, has shown that leading power companies disclosed wrong figures in their annual reports while also leaving out key data.
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As plans have been approved for the Olympic rings to be installed top of the Tower bridge, the Mayor of London, City of London Corporation, GE and EDF have negotiated to also replace the lighting system that have been in service for the past 25 years.
This project is expected to add to London’s iconic landscapes with its scenery of advanced lighting techniques. State-of-the-art LED lighting and cabling systems will be installed just before the games of the 2012 celebrations.
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