EDF drops gas prices - Business - ITN.co.uk © REUTERS/Gonzalo Fuentes EDF Energy have become the first of the major utilities suppliers to drop their tariffs. The firm announced on Wednesday that it would be cutting the price of its gas by 5 per cent from February, offering a glimmer of hope to cash-strapped households. The move follows a 15.4 per cent hike in October, which followed other major suppliers and was attributed to rising wholesale prices. However, with an overall 9.2 per cent fall overall in 2011, the company had come under pressure to pass some of those savings on to customers. EDF Energy's chief executive Vincent de Rivaz said: "What customers want more than anything else is fair, clear and transparent prices. We know they want action rather than words. That is why we are the first major supplier to announce a cut and were the last to increase prices. The move follows a surge in complaints over new billing systems introduced in 2011, which saw the company drop to second from bottom in customer satisfaction surveys. It is predicted other suppliers could now join EDF in lowering their prices.