Igloo Energy has announced a 3% price cut for its dual fuel customers.

The move marks the second time the challenger energy brand has dropped its prices this year and means a typical customer on the supplier’s single tariff has an annual bill £80 cheaper than at the start of the year.

Igloo Energy says it is passing savings from continued low wholesale prices back to its consumers and says it is absorbing increased network and policy costs for the time being.

On average, the small supplier charges customers £320 less per year than the Ofgem price capfor standard tariffs.

CEO of Igloo Energy, Matt Clemow, said: “We’re proud to be lowering our customers’ bills for the second time this year.

“Energy bills can be a huge drain on household finances, we’re committed to delivering the lowest prices we can to customers on our one simple tariff, whilst helping them to actively reduce their energy consumption. This doesn’t just save money, it saves the environment too.”