Energy firm E.On cuts gas prices by 5.1%

E.On has announced a 5.1% reduction in its standard gas price for residential customers. The company said the cut was the price equivalent of £32 off the average annual bill.

It is the first time in five months that any of the big six energy firms have cut their prices. Last week both the regulator and the prime minister expressed concerns that prices were not being cut in line with falls in the wholesale cost of gas.

Emma Simpson reports.