By Marcus Leach

E.On, the energy company, have announced that they will cut the price of their electricity by 6%.

The change in price comes into effect as of Monday 27th February, and follows a series of gas price cuts last week from several of the leading energy companies.

E.On, as with the other firms to have cut their costs, said it too was responding to a recent dip in wholesale energy prices.

It said its cut would affect 75% of its customers and would amount to a cut of £31 in its customers' average annual bills.

"Reductions over the last few months in the wholesale price that we pay for our customers' energy have now allowed us to help as many of our customers as possible by cutting our electricity price," E.On's chief executive, Dr Tony Cocker said.

"Whilst we're pleased to pass on this recent slight fall in wholesale prices, most experts agree that global energy prices will continue their long-term rise."

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