New technology puts consumers in greater control of their energy spend.
ScottishPower has launched its new “Power Up” product today (Monday 10th October), which will provide customers with some of the most competitive prices available in the UK.
With PowerUp customers can buy ‘days’ of energy - a first for the UK energy market - with an average daily energy price of between £2.10 to £2.50*. PowerUp follows recommendations from the Competition and Markets Authority that energy companies need to do more for customers who never switch, to make bills simpler and to encourage greater energy efficiency.
The concept is based on a petrol-pump pricing model. PowerUp allows customers to fill-up their ‘fuel tank’ up-front at a set price. Packages range from one day, to a month, up to 180 days. Customers can then view their usage via a new app, allowing them to easily track and understand their consumption habits. When the fuel gauge is running low, customers will be prompted to take action, similar to a petrol-warning light in a car. No ‘standing charges’ are applied for customers paying via PowerUp, so if no energy is used on a given day, the fuel gauge will not move.
Neil Clitheroe, Global Retail Director said: “As well as being competitively priced, PowerUp is designed to make energy bills simpler. We also want to give our customers greater personalised information on the energy they use, which we hope will encourage greater energy efficiency. As it stands just now, people seem more conscious of the way they use petrol in their fuel tank than they are with energy used at home. PowerUp is designed to make it easier to see the link between energy usage and the costs, and we hope it will help customers to make their days of energy last longer.
“Importantly, we also want to ensure that all of our customers are offered our best products and our best prices. That’s why in the first instance we are launching PowerUp to our existing customers, all of whom can switch tariffs for free at any time.”
ScottishPower is currently reviewing when PowerUp will be made available to the wider market.
The PowerUp prices, based on GB averages for OFGEM typical Dual Fuel consumption, are:
|Package ||Annualised Price** ||Price per Day*|
|1 Month ||£840 ||£2.30|
|3 Month||£803 ||£2.20|
|6 Month||£767 ||£2.10|
* Based on daily average consumption for OFGEM typical annual consumption of 12,500kWh gas and 3,100kWh electricity, based on available PowerUp package prices at launch. Includes VAT.
** Based on launch package prices for the full 12-month term. Package prices subject to change. Includes VAT.
Notes to Editors:
PowerUp: buy, track, save. How it works:
- Customers can buy days of gas and electricity via the mobile app - from one to 180 days.
- ‘Days’ are based on a personalised forecast of how much energy an individual customer requires. ScottishPower uses detailed consumption history to calculate daily usage based on the time of the year.
- There is no ‘standing charge’ for customers paying via PowerUp.
- Customers can track how much energy they use, to see when they next need to PowerUp. Customers can view past and forecast consumption to help them better understand their energy spend.
- If an existing customer wants to sign-up to PowerUp, they simply visit www.scottishpower.co.uk/powerup. It’s a quick and straightforward process, with detailed information and videos to show customers how to use and make the most of PowerUp.
- The PowerUp app is available for download for iPhone, iPad and Android
Media Information: Simon McMillan, 0141 614 4582 / 07753 622 257 Paul Ferguson 0141 614 4535 / 07702 665 924