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ScottishPower Announced Energy Price Cuts of up to 16.5%

30/04/2007

ScottishPower today announced energy price cuts for domestic customers and launched one of the cheapest dual fuel products in the UK market. From 15 June gas prices will drop by up to 16.5% and electricity by up to 5.5%, taking the typical direct debit bill down £75 to £836 per year.

These price decreases will again take ScottishPower’s standard Gas & Electricity Offer below that of British Gas—a market advantage it has enjoyed for almost all of the last five years.

The decrease follows the recent launch of ScottishPower’s Price Fall product, which at an average of £811 per year, is one of the cheapest offline deals in the UK. While offering savings today and shielding customers from any potential increases until October 2008, the offer also guarantees to pass on future decreases should standard prices fall below Price Fall rates.
 
The new price structure also means that ScottishPower is now the only UK supplier to support its most vulnerable customers with prepayment rates for both Gas and Electricity that are cheaper than standard quarterly payment rates.

ScottishPower is also launching the Savings Challenge encouraging existing customers to ensure that they are on the company’s best deal. Over 80% of ScottishPower customers could pay less by making simple changes to their energy account – eg switching to Direct Debit could save up to £125 and managing accounts online up to a further £64.

Willie MacDiarmid, ScottishPower’s Director of Energy Retail, said: “Between 2003 and 2006 wholesale energy costs rose by over 200% and we have protected our customers from a substantial part of this increase.  Now that costs are starting to subside we are delighted to offer our customers one of the cheapest energy products in the market. We can also assure our customers that we are committed to giving them value for money in the longer term and will continue to review our pricing structures”.

Media Enquiries

Simon McMillan
Group Media Relations Manager   0141 566 4875 / 07753 622 257

Note to Editors

1) Price Fall Comparison

  Annual Bill Saving with pricefall
ScottishPower PriceFall £811 -
British Gas £837 £26
Powergen £857 £46
Scottish & Southern Energy £826 £15
Npower £824 £13

Savings shown above based on an average dual fuel customer in Britain with annual mains gas usage of 20,500kWh and annual Standard Rate electricity usage of 3,300kWh paying monthly by direct debit switching from other suppliers standard offers to ScottishPower's PriceFall product. Excludes IGT Gas customers. Prices correct as at 30th April 2007. Includes VAT at the applicable rate of 5%.

2) Direct Debit and Online savings based on an average dual fuel customer in Britain with annual mains gas usage of 20,500kWh and annual Standard Rate electricity usage of 3,300kWh. Direct Debit saving based on a customer moving from paying in cash quarterly to paying monthly via Direct Debit and excludes prompt payer discounts. Further Online Saving based on a standard offline Direct Debit customer choosing to service their account Online with ScottishPower’s Online Saver 3 offer.

3) ScottishPower old UK average direct debit duel fuel price: £911
ScottishPower new UK average direct debit duel fuel price:£836
Above figures are based on an average dual fuel customer in Britain with annual mains gas usage of 20,500kWh and annual Standard Rate electricity usage of 3,300kWh.

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