ScottishPower reveals cut in gas prices - Gas and electricity - News - Moneyfacts

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ScottishPower reveals cut in gas prices

ScottishPower reveals cut in gas prices

Category: Gas and electricity

Updated: 17/01/2012
First Published: 17/01/2012

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 It is now over 6 months old so the content may be out of date.

ScottishPower has announced around 1.4 million domestic gas customers will see a reduction in their gas bills from next month.

The energy provider said the annual gas bill of domestic customers will fall by an average of 5% from 27 February.

This equates to an annual reduction of £36 for both dual fuel and gas only monthly Direct Debit customers.

However, announcing the cuts, Neil Clitheroe, ScottishPower's CEO of energy retail and generation, warned that further price rises are likely in the future.

"Although there has been a short-term fluctuation in the wholesale gas market that has allowed us to pass on today's reductions, the global demand for energy is increasing faster than its supply," he explained.

"This will inevitably lead to higher energy costs in the long-term."

The move means all of the Big Six energy providers have now announced a reduction in either their gas or electricity prices over the last few days.

British Gas has already cut the cost of its electricity by 5%, while E.ON will reduce its electricity tariff by 6% from next month.

ScottishPower, Npower and EDF are all reducing the cost of their gas by 5% in February, while Scottish and Southern is cutting the price of its gas by 4.5% from March.

In previous weeks, smaller energy suppliers Ovo Energy and The Co-operative have both announced price cuts for residential customers.

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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 Any products featured may be withdrawn by their provider or changed at any time.

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