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Renewable energy supplier Good Energy is the latest supplier to cut its prices with a 7.2 per cent cut effective from 1 April.

The announcement follows price cuts from the big six and fellow independents Ecotricity and Utilita, in response to calls from energy secretary Amber Rudd, Ofgem chief executive Dermot Nolan and consumer groups to reflect falling wholesale prices.

Good Energy said the average dual fuel user will save £42 on their annual bill as opposed to other gas-only price reductions.

Good Energy founder and chief executive Juliet Davenport said: “Wholesale market prices have been falling and it’s right that our prices for customers should reflect this.

“This latest drop means our average dual fuel bill is the lowest it has been for at least the last three years, and our gas prices are the lowest they’ve ever been.”