Scottish Power heaps further misery on nearly one million energy customers
Scottish Power is raising gas and electricity prices for 960,000 customers on its Standard Variable Tariff from 1 June 2018** – making it the most expensive big six standard tariff on the market**
Bills for dual fuel customers paying by direct debit will increase by 5.5% (£63) from £1,147 to £1,211 – the equivalent of at least £60 million nationwide
However, customers who pay when they receive their quarterly bill will be hit with a rise of £85 (6.9%) – leaving them paying an astonishing £1,311 per year]
Scottish Power blames rising wholesale and policy costs for the increase
Consumers should not think they are protected because the Government has proposed a price cap – in fact it could be encouraging price rises
Energy customers could save up to £491 by switching supplier.
Scottish Power has become the latest energy company to raise the price of its’ Standard Variable Tariff. The increase of 5.5% is effective from 1 June and will add an average of £63 a year to dual fuel bills.
Scottish Power’s standard tariff will be £50 dearer than the next large energy company’s SVT, making it the most expensive from any big six provider, at an eye-watering £1,211.
Around 960,000 customers are affected by the move, who will collectively pay at least £60 million more to Scottish Power. But customers who pay by cash or cheque every quarter will pay an average of £85 more each per year, raising their annual bill to an incredible £1,311.
Commenting on the news, Claire Osborne, Uswitch.com energy expert, says:
“It might be hot right now but this price rise will affect households whatever the weather. Don’t be distracted by the heat-wave – this will cost customers at least £60 million this year alone.
“Energy companies are now falling over each other to raise the price of their worst value deals. It’s a fact of life that gas and electricity costs rise as well as fall, but larger suppliers who buy several years ahead should be able to factor in wholesale price fluctuations and protect their customers from sudden price rises.
“The threat of an impending price cap seems to be having a negative impact before it’s even been introduced. Suppliers are rushing to push up prices for millions of customers and banking on them not switching once the cap is in place. But customers can strike back and save a cool £491 by changing supplier – then spend it on fun in the sun rather than poor value energy deals. It’s only when energy companies feel the threat of competition and risk losing customers that they’ll be forced to offer them genuinely good deals.”
Table 1: Big six energy company price rises 2018
| Supplier | SVT Tariff Name | Previous SVT price | New SVT price | Difference | Comes into effect from: | |||
|---|---|---|---|---|---|---|---|---|
| E.ON | E.ON Energy Plan | £1,123 | £1,153 | £30 | 2.7% | 19 April | ||
| British Gas | British Gas Standard Variable Tariff | £1,101 | £1,161 | £60 | 5.4% | 29 May | ||
| EDF Energy | Standard (Variable) | £1,142 | £1,158 | £16 | 1.4% | 7th June | ||
| Scottish Power | Standard | £1,147 | £1,211 | £64 | 5.6% | 1st June |
FOR MORE INFORMATION
Tim Dunford
Phone: 020 3872 5612
Mobile: 07785 552666
Email: tim.dunford@uswitch.com
Twitter: @uswitchPR
Notes to editors
https://www.scottishpower.com/news/pages/scottishpower_to_increase_standard_variable_prices.aspx
960,000 x £63 = £60, 480, 000
Between 1 April 2017 and 30 Sep 2017, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £491 or more.
See Table 1: Bix six energy company price rises 2018
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