Scottish Power third of the "Big Six" to drop prices

Scottish Power has become the third major gas supplier to announce a price cut, with the news it is to reduce prices by 4.8% from 20 February.

Customers on the standard tariff will make an average saving of £33 on their annual gas bills as a result.

Earlier this week, the UK's largest supplier, British Gas, announced it was to cut prices by 5% from 27 February.

German-owned supplier E.On was the first to reduce its tariffs, by 3.5% - a cut that has already taken effect.