Scottish Power to raise rates by 8.6% - Gas and electricity - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Scottish Power to raise rates by 8.6%

Scottish Power to raise rates by 8.6%

Category: Gas and electricity

Updated: 25/10/2013
First Published: 24/10/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Scottish Power has just announced its plans to raise dual-fuel energy bills by an average of 8.6%, making it the fourth of the big six to increase its rates.

The increase will be made up of an 8.5% rise to gas prices and 9% rise to electricity, with average householders seeing their duel-fuel bill rise by £113 per year. The changes will come into effect on 6 December and will affect around 2.2 million Scottish Power customers, but those in different parts of the country will see different rates rises.

As with other energy providers, Scottish Power is blaming the increase on a combination of the higher costs of wholesale energy, of delivering it to customers' homes and of various Government environmental and social schemes, saying it had "no option" but to increase tariffs.

This latest increase comes amid tough political debate over energy bills and just after the Government announced plans to review green levies and their impact on bills.

It also comes just days after Scottish Power was fined £8.5 million by Ofgem for misleading customers during sales approaches after a failure to "adequately train and monitor" staff.

This means just two of the major energy providers have yet to announce price rises, with speculation mounting over just when and how much they'll be. Customers are being urged to shop around to find a cheaper tariff and fix before it's too late.

What next?

Find the cheapest energy tariffs out there

Switch today to avoid the price hike

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

4.8m people switched energy supplier last year

We’re often told of the amount we could save by switching energy supplier, and happily, the message seems to be getting through, with the number of consumers switching providers having reached record levels last year.

EDF cuts gas prices, but hikes electricity

EDF Energy has announced that it’s cutting gas prices for customers on its standard variable rate tariffs, but unfortunately, electricity customers could lose out, as they’ll see a rate increase from March next year.

The energy league table – are you on the best deal

Ofgem yesterday revealed its league table of energy prices, highlighting the cost of typical gas and electricity tariffs from the UK’s top suppliers. It shows just how expensive standard variable tariffs can be, and you could well be paying too much.
 
Close