Press release:

Another blow for consumers as ScottishPower announces 7.8% price rise

  •  ScottishPower is putting its prices up by 7.8% or £86 per year for gas and electricity from 31st March 2017[1]
  • 1.1 million dual fuel customers’ bills will go up from £1,081 to £1,167 a year – the equivalent of £95m being taken out of the pockets of hard pressed families across the country[1]
  • ScottishPower’s standard tariff will now be £333 more expensive than the cheapest deal on the market[2]
  • ScottishPower’s hike follows hot on the heels of other big six suppliers EDF and npower, who will both be raising their prices in March
  • ScottishPower blames the increasing cost of wholesale energy, delivering green levies and the smart meter rollout
  • Energy customers could save up to £618 by switching energy supplier[3].

ScottishPower has become the latest energy supplier to deal a bitter blow to its customers, after announcing plans to increase the price of its standard dual fuel tariff by 7.8%, from £1,081 to £1,167 a year[1]. Today’s increase will affect 1.1 million ScottishPower customers, adding a total of £95m per year to UK bills[2].

Commenting on the news, Claire Osborne, energy expert at uSwitch.com, says: “It’s incredibly disappointing but not entirely surprising to see another big six energy supplier punish their most loyal customers with an inflation busting price rise. This is yet another reminder to customers that loyalty doesn’t pay. This hike by ScottishPower, hot on the heels of similar announcements from EDF and npower, means that 1.1 million consumers across the country face the prospect of paying £86[1] more for their energy this year. With one in three working families already struggling to pay their energy bills[4], and the cost of living set to rise across the board, the news could not be more unwelcome.

“Along with other suppliers who have announced price increases recently ScottishPower has blamed wholesale price increases and the cost of the smart meter rollout. But this rings rather hollow when you consider that its bills weren’t so quick to fall when wholesale prices were low. Even the regulator, Ofgem, has recently said that it sees no obvious reason for suppliers to raise their prices significantly – and this is a significant price rise.

“As ever it’s the ScottishPower customers languishing on poor value standard tariffs who will be bearing the brunt of this price rise. 1.1 million customers are now facing this hike and should seriously consider voting with their feet and switching now to avoid being out of pocket. Households could switch and save up to £618[5] – they could also protect themselves against any further price rises by choosing a fixed deal.”

Find out how you could save over £1,000 a year with uSwitch here.

— ends —

Notes to editors

 

  1. http://www.scottishpower.com/news/pages/scottishpower_increases_dual_fuel_prices_average_of_78.aspx ScottishPower had 1.1 million customers on its SVT. 1.1 million * £86 = £94.6 Million
  2. Cheapest deal is IRESA’s Iresa Flex4 12 month Fixed Direct Debit at £833.73. ScottishPower’s new SVT direct debit is £1,167. £1,167 – £833.73 = £333
  3. Between 1 June 2016 and 30 November 2016, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £618 or more.
  4. https://www.uswitch.com/media-centre/2016/11/1-in-3-working-families-struggle-to-pay-their-energy-bills/

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