ScottishPower has announced a reduction in its standard domestic gas prices of 4.8%* from 20th February. ScottishPower has also announced a new fixed-price tariff which is one of the most competitive in the market place, with an average dual fuel bill value of £930†.
Neil Clitheroe, ScottishPower’s CEO of Retail and Generation, said:
“We are pleased to be able to pass on this price reduction to our customers, which will see the average annual gas bill on our standard tariff reduce by £33‡.
“Today, we have also launched a new fixed-price tariff which is one of the most competitive in the marketplace, with an average dual fuel bill value of £930†. All ScottishPower customers can take advantage of our best deals by contacting us or visiting our website. Customers already on fixed-priced tariffs can also move between our tariffs at any time, without paying any exit fees.
“Today’s decision has been made to benefit our customers and keep our prices competitive. We will continue to keep our prices under review. Our pricing reflects all of the costs that contribute to a customer’s bill. The wholesale price of energy accounts for half of a customer’s gas bill, but non-energy costs such as transmission and distribution networks and environmental and social obligations remain unaffected by any wholesale energy price movements.”
Notes to Editors:
* - Based on a weighted average of impacted ScottishPower customers across all payment types, averaged across Great Britain, calculated on Ofgem typical annual consumption values for gas of 13,500kWh and standard prices. Includes VAT at the current applicable rate of 5%.
† - Based on a GB average domestic customer using Ofgem typical annual consumption of 3,200kWh of Standard Rate electricity and 13,500kWh of gas each year and paying by monthly Direct Debit on our Online Fixed Price Energy February 2016 tariff. Includes VAT at the current applicable rate of 5%. Subject to availability and may be withdrawn from sale at any time.
‡ - Based on Ofgem typical annual consumption of 13,500 kWh gas, across all payment methods and regions. Includes VAT at the current applicable rate of 5%.
What makes up a gas bill?
For every £100 spent by a gas customer, the typical breakdown of costs is shown below: