The City roundup video: Is British Gas set to cut gas bills again?

Video: Clare Hutchinson provides a run-down of the day's major news from the City

British Gas has so far bucked the trend by committing to keeping its gas and electricity prices on hold until August (PA)

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The boss of British Gas-owner Centrica said today that the utility could cut gas bills again this year, as the cost of wholesale oil and gas stays low.

Of course commodity prices aren’t the only thing that could bring down heating bills. Ed Miliband, who before bills were cut promised an energy price freeze if Labour won power, would be expected to play a more active role in the energy industry if he becomes the man in No10 this May.

The Competition and Markets Authority is also conducting an energy market review and, depending on its findings, it could force companies that both extract and supply energy to break up, with the aim of boosting competition and potentially bringing down prices.