1 min Read
09 Mar 2010

Written by Damien

Damien is one of the most widely quoted money and investment experts in the national press and has made numerous radio & TV appearances. He created MoneytotheMasses.com while working in the City when he became disillusioned with the way the public were left to fend for themselves because they could not afford financial advice.

More about Damien

News: Npower cut their gas bills by 7% and I blow my own trumpet

If you needed proof that I know what I’m talking about, which of course you don’t, Npower have today announced that they are to cut their gas bills by 7%.

If you have been reading this blog from day one you may remember that on 4th Feb 2010 the ‘Headline of the Day’ was that British Gas had cut their gas bills by 7%. While some people may have been inclined to switch gas supplier on that piece of news, anyone who read my post Lunchtime Money Makeover – Top 6 ways to reduce your energy bills, would have learned that it doesn’t always pay to be hasty.

In particular, I offered the following warning ……………, in future when you read something in the press about a supplier cutting their rates don’t always rush to change your energy suppliers immediately . A lot of the advertised deductions are on their expensive tariffs but perhaps more importantly when one supplier makes cuts it inevitably forces their competitors to do so as well. So wait for the dust to settle before looking to move.

So while I don't like to say I told you so.......well......I told you so.

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