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ScottishPower Reduces Gas Prices By 5.4%

02/02/2016

ScottishPower has announced a reduction in its standard domestic gas prices by an average of 5.4% effective from 15th March 2016. This reduction will benefit over 1 million customers with the average annual standard gas bill reducing by £32[1].

Neil Clitheroe, ScottishPower’s CEO of Retail and Generation, said:

“This latest price reduction means the average annual gas bill on standard tariff will reduce by £32 as of 15th March with over 1 million customers benefiting from reduced prices.

“Over the past year, we have tried to always offer our customers competitively priced dual fuel tariffs. This has encouraged more of our customers to switch between tariffs with now close to one in two on fixed price products. This is one of the highest proportions of fixed price customers of the major suppliers.”

Last week ScottishPower launched the cheapest dual fuel tariff that fixes prices until 2018 in the market[2], with an average annual Dual Fuel bill value of £850[3]. This tariff allows customers to fix their energy prices until 31st January 2018.  The company continue to offer customers the ability to move between all applicable tariffs at any time, without paying any exit fees.


Notes

[1] How do you calculate this reduction?
It’s based on a weighted average of impacted ScottishPower customers across all payment types, averaged across Great Britain, calculated on the Ofgem typical annual consumption values for gas of 12,500kWh and standard prices.  Includes VAT at the currently applicable rate of 5%.

[2] Help Beat Cancer Fixed Price Energy January 2018 is currently the cheapest dual fuel tariff that fixes prices until 2018 available from any of Great Britain’s energy suppliers. This comparison is based on a GB average domestic customer using Ofgem typical annual consumption of 3,100kWh of Standard Rate electricity and 12,500kWh of gas each year, paying by monthly Direct Debit, and managing their account online on our Help Beat Cancer Fixed Price January 2018 tariff. Includes VAT at the currently applicable rate of 5%. Subject to availability and may be withdrawn from sale at any time. Correct as at 2nd February 2016.

[3] Based on a GB average domestic customer using Ofgem typical annual consumption of 3,100kWh of Standard Rate electricity and 12,500kWh of gas each year, paying by monthly Direct Debit, and managing their account online on our Help Beat Cancer Fixed Price January 2018 tariff. Includes VAT at the currently applicable rate of 5%.
        

Media information:
Simon McMillan  0141 614 4582/07753 622 257
Paul Ferguson   0141 614 4535/07702 665 924

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