Scottish Power to increase prices by 5.5%

23rd April 2018

ScottishPower has announced it will increase its standard variable domestic gas and electricity prices from June 2018. The majority of customers affected, who pay by monthly direct debit, will see an average increase of 5.5%, or £63 on a typical annual dual fuel bill.

Responding to the news Citizens Advice Director of Energy Victoria MacGregor, Director of Energy said “It’s disappointing to see Scottish Power raising the price of its standard variable tariff (SVT). Following British Gas and EDF last week, Scottish Power also uses Ofgem’s reasoning for raising the prepayment meter cap – wholesale and policy cost increases – to justify this rise. But as SVT customers are cheaper to serve, it’s unclear why it’s necessary for their tariff to rise by this amount.”

“Scottish Power needs to explain to consumers why this price rise is truly needed. Customers who aren’t happy with their current supplier can use Citizens Advice’s price comparison tool to get the best information on cost and customer service to help them switch to another company.”

Georgie Frost, consumer advocate from GoCompare Energy, said “A third of – almost one million – ScottishPower customers face a 5.5% hike to the cost of their energy from 1 June 2018. In plain English, this adds about £63 per year to a typical dual fuel bill. The third of the so-called ‘big six’ to announce price rises in the last two weeks, ScottishPower’s price hike should be seen as a wakeup call to energy customers who are continually paying more than they need to for their gas and electricity simply for remaining loyal.”

“There’s a good reason energy switching is more popular than ever, and if you are a ScottishPower customer, or have been with any energy provider for some time without switching, you should get in on the action too. An average energy user could save around £300 by switching, so set aside five minutes, compare tariffs online, and see if you can find a better deal.”

Peter Earl, Head of Energy at comparethemarket.com, said “This announcement is predictable. Scottish Power follows in the footsteps of E.ON, British Gas and EDF, which combined impacts millions of people across the UK. This activity all points to a broken market, where the big players dictate prices and move as one in order to deflect attention. The companies that have issued price hikes may think that people will get a bit angry, but not angry enough to move suppliers. However, we think that they are underestimating the savviness of households. These price hikes will drive many thousands of people into the arms of competitors. However, sadly, probably not enough to stop this happening again.”

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Scottish Power to increase prices by 5.5%

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