By Marcus Leach

NPower are the latest energy company to cut their gas prices, following the lead of British Gas and EDF Energy with a 5% cut.

The new price is effective as of February 1st and comes within days of EDF and British Gas announcing similar price cuts.

All of the energy companies to cut prices have cited a mild winter and the decrease in cost of wholesale gas.

"It is obviously no coincidence that several energy companies have announced price reductions this week and we do not apologise for joining them," said Paul Massara, chief commercial officer at RWE, which owns Npower.

"We are now at a point where costs, at least in the short term, can justify a price cut."

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