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UK's EDF Energy cuts gas prices by 5 percent

Reuters - UK Focus

Feb 11 (Reuters) - EDF Energy on Thursday moved to cut its standard gas prices by 5 percent, effective from March 24.

The announcement immediately followed one by Britain's biggest utility Centrica (LSE: CNA.L - news) which further cut gas prices by 5.1 percent on Thrusday.

"The 5 percent price reduction announced today is linked to falls in wholesale gas costs," a statement from EDF Energy said.

The cut will reduce average gas bills with EDF (Paris: FR0010242511 - news) by 31 pounds sterling and benefit 900,000 customers, the company said. (Reporting by Oleg Vukmanovic in Milan; Editing by Elaine Hardcastle)