Third supplier announces energy price hike - Gas and electricity - News - Moneyfacts

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Third supplier announces energy price hike

Third supplier announces energy price hike

Category: Gas and electricity

Updated: 19/11/2010
First Published: 19/11/2010

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ScottishPower has become the third major UK gas and electricity supplier to announce a price rise in the last few weeks.

The company has said that its standard domestic gas prices and electricity prices would rise effective from 25 November 2010.

Prices for gas customers are to increase by an average of 2% and electricity bills by an average of 8.9%, with the new tariffs set to affect some 2.5 million households.

ScottishPower said the decision would mean an annual increase of £54 on a dual fuel energy bill, equating to a rise of around £1 a week.

It is the third time in recent weeks that a major UK energy supplier has announced that it is to raise its prices over the winter.

As was the case with British Gas and Scottish and Southern Energy, ScottishPower said its decision to increase prices has been forced by a 25% rise in the wholesale cost of energy since the spring.

Raymond Jack, ScottishPower's director of energy retail, said: "We understand that times are difficult for many people, and we have done all that we can to keep energy prices as low as possible for as long as possible."

Around 600,000 of the households supplied by ScottishPower will be protected from the increases as they are currently supplied on a Fixed or Capped Price energy deal.

The company will hold off increasing rates for 60,000 of its most vulnerable customers through the winter period by holding prices on its Fresh Start package at current levels until 31st March 2011.

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 Any products featured may be withdrawn by their provider or changed at any time.

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