ScottishPower announced a price rise of 10% for around 900,000 customers on 19 February 2019
This price hike will take effect on 1 April 2019, and equates to a £117 bill increase for customers on ScottishPower's standard rate plan.
ScottishPower was the fifth of the big six energy suppliers to announce a price rise in February 2019 after Ofgem announced an increase to the energy price cap rate.
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Commenting on the news, Richard Neudegg, Head of Regulation at uSwitch, said:
“It's now been confirmed that over £1 billion a year will be slapped on energy bills from 1 April. But households don't have to fork out extra just because a spreadsheet says so.
"There are nearly 200 energy tariffs which are currently cheaper than the new cap will cost. Consumers can grab savings of over £300 by switching now."
What should I do about the price change?
You are only affected by the price announcement if you are on ScottishPower's standard plan. This price rise will have impacted about a third of ScottishPower's customers. If you do nothing, from April 2019, you will see your rates increase. If your ScottishPower fixed rate comes to an end and you don't switch to a different tariff, then you will be moved to this increased-rate standard plan.
Standard plans are usually suppliers' most expensive tariffs. If you are on your suppliers' standard tariff, then you should be looking to save on your energy bill, and run a energy comparison against all plans and suppliers to find the best deal for you.
Why did ScottishPower raise its prices?
ScottishPower announced its latest price rise just days after Ofgem revealed that it would be increasing the rate of the energy price cap as of April 2019.
The supplier followed three other big six suppliers in adjusting the average cost of its standard tariff to match the new cap level of £1,254.
Previous price rises from ScottishPower
Prior to 2019, ScottishPower last announced a price rise of 3.7% for around 900,000 dual fuel standard rate customers on 24 August 2018.
This price hike took effect 8 October 2018, and was the second price rise from the big six supplier in 2018 — in April, ScottishPower announced a price rise of 5.5% (this rise took effect 1 June 2018).
What happened to energy prices in 2018?
Aside from ScottishPower, the rest of the big six energy suppliers all raised their prices in 2018.
- SSE's electricity rates increased in July 2018 by 6.7% The supplier also removed paperless billing discounts, adding another £6 per fuel to bills.
- npower raised its standard dual fuel prices in June 2018 by 5.3%.
- EDF Energy raised energy prices twice in 2018 — 1.4% in June and 6% in August.
- E.ON also announced two price rises in 2018. It removed discounts for some customers in April and in August it hiked prices by 4.8%.
- British Gas raised its prices by a total of £104 in 2018, in April and August.
You can read more about price changes across the major energy providers in our guide, Gas and electricity price changes 2019.
Will ScottishPower raise prices in 2019?
Yes — ScottishPower is currently due to raise its prices by 10% on 1 April 2019 after its announcement in February. And it's possible it could happen again this year, especially as Ofgem's price cap is due to be reviewed again in October.
You can stay up to date with the latest news on the energy market from uSwitch.
Usually, when one major energy supplier raises their prices the rest tend to follow suit.
That might explain why most of the energy price rises in 2019 so far have been announced for April after E.ON was the first to reveal a price rise.
The energy market regulator, Ofgem has advocated for consumer empowerment and encouraged customers to switch their deal to get a better price for their gas and electricity.