SECOND ENERGY PRICE RISE FROM SCOTTISHPOWER THIS YEAR
August 27, 2018
ScottishPower’s gas and electricity standard variable domestic gas and electricity prices will rise again on 08 October, a 3.7% increase for dual fuel prices on top of a 5.5% rise in April.
The company blamed the price change on "continued increases in wholesale energy costs.”
ScottishPower's CEO Retail Neil Clitheroe said:
“We have seen significant increases in wholesale energy costs since April, and like others in the industry, this means that we need to increase our prices.
“More than two-thirds of our customers are on fixed price products or other tariffs not impacted by this price change. Those customers affected by the price change will be contacted and offered the opportunity to move to a fixed price tariff alternative and avoid this increase."
Victoria Arrington, spokesperson for energyhelpline commented:
"Consumers can hardly keep up with the tsunami of price hikes this year.
“This second ScottishPower price rise is yet another bitter pill to swallow for millions of households.
"From 08 October, dual fuel customers on a Standard Variable Tariff (SVT) will see their average annual bills go up again with another £46 (3.7%), after they already had to cope with the £63 price hike that came into effect in June.
“One has to question the impact on consumers. These coming price rises may cause serious hardship for many families.Temperatures have dropped, but energy prices are rising. With yet another price hike from a major supplier in 2018, it feels like it is only a matter of time before all of the Big Six have hiked up their prices for consumers across the UK.”
Patricia Gibson MP, SNP Consumer Affairs Spokesperson added:
“Once again, consumers are being hit hard by energy price rises.
“If ScottishPower’s Standard Variable Tariff customers plan to stay with their supplier, it would benefit them to switch from this tariff to the lowest available on the market as of today, they would save on average £100s.
"These double price hikes are particularly harsh, especially as the autumn and winter approaches. The cost of sticking to a big-name energy supplier is quickly eroding the loyalty of their customers.
"With over 80 active suppliers there is more competition out there for big suppliers than ever before and customers can switch quickly and easily online.
“I urge consumers to empower themselves and seek out the best deal possible.”