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ScottishPower Increases Dual Fuel Prices Average Of 7.8%

10/02/2017

  • Increase is due to rises in energy wholesale market and compulsory non-energy costs
  • Nearly two out of three homes supplied by ScottishPower unaffected by this price change
  • All affected customers to be offered ScottishPower’s best fixed deal for their needs

ScottishPower is to increase its standard domestic gas and electricity prices from 31st March 2017 following rises in energy wholesale markets and compulsory non-energy costs.  These include costs for decarbonising electricity generation and the upgrade to smart meters.

Dual fuel prices will increase by an average of 7.8% [1]. Electricity prices will increase by an average of 10.8% [1] and gas prices by an average of 4.7% [1]. Approximately one third of ScottishPower customers (1.1 million) will be affected by the change.

Nearly two out of three homes supplied by ScottishPower are on products or payment methods unaffected by this price change. Pre-payment customers are not affected by this announcement, but they will see separate changes as the CMA price cap is implemented. ScottishPower has worked hard over recent years to move customers from standard prices and now has over half of its customers on fixed price deals – more than all other major suppliers.

This has been achieved by ensuring all ScottishPower customers can always access its best rates, move between tariffs for free at any time and by making all its tariffs available to new and existing customers. ScottishPower has also not introduced any “new customer only” deals.

ScottishPower will continue to encourage loyal customers to move to fixed price deals and will be writing to customers on standard tariffs with a personalised quote, showing how much could be saved. Customers will have at least 30 days to move to the best fixed price tariff that suits them, and avoid this increase. In a first for the company, ScottishPower customer service people will stop sales activity for a week to help affected customers make sure they are on the best deal.

Colin McNeill, UK Retail Director said: “This increase will apply to one in three of our customers, and we continue to work hard to move even more customers to our fixed price deals.  We will be writing to all those affected, outlining the changes and encouraging more loyal customers to move to a deal that best suits them.

“This price change follows months of cost increases that have already led to significant rises in fixed price products that now unfortunately have to be reflected in standard prices.”

ScottishPower Price Change Explained

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