ScottishPower cuts gas bills by 5%
Company is the last of the 'Big Six' energy companies to announce a price cut.
ScottishPower has become the last of the Big Six energy suppliers to announce a price cut – in its case, a 5% drop in gas bills.
The cut will come into effect on 27 February and will benefit around 1.4 million of its gas and dual fuel customers. For gas and dual fuel customers paying by direct debit, the reduction equates to an average saving of £36 per year.
The cut applies to customers on the following tariffs:
- Standard
- Discounted Energy
- Fresh Start
- Pay in Advance
- Online Energy Saver
- SP Direct
- Simply Green Energy
- Unifi Capped Energy January 2014
Some customers on the Capped Price Energy tariff will benefit, but not all.
ScottishPower says it will not increase prices until 1 April at the earliest, but warned that prices will rise “in the long term”.
The company was the first of the Big Six to announce price rises last autumn – with gas prices increased by 19%.
All of the Big Six have chosen to only reduce the price of one utility, despite putting up the prices of both last year, twice in many cases.
Here's a full list of the Big Six's recent increases and reductions:
|
Supplier |
Autumn increase in gas prices | Autumn increase in electricity prices |
Winter cut in gas prices |
Winter cut in electricity prices |
|
EDF Energy |
15.4% | 4.5% |
5% (from 7 February) |
- |
|
SSE |
18% | 11% |
4.5% (from 26 March) |
- |
|
British Gas |
18% | 16% |
- |
5% (now) |
|
Npower |
15.7% | 7.2% |
5% (from 1 February) |
- |
|
E.ON |
18% | 11% |
- |
6% (from 27 February) |
| ScottishPower | 19% | 10% | 5% (from 27 February) |
- |
As you can see, most of the cuts don't come into effect until next month at the earliest.
Many consumer and campaign groups were pushing for cuts of up to 10% across both gas and electricity.
Compare energy tariffs with lovemoney.com
More: The best and worst energy suppliers | Energy customers ‘missing out on millions in compensation’
For the latest news and comment on the stories that affect your money, follow us on Twitter
Most Recent
Comments
-
Interesting that the ones that have chosen to reduce gas prices have not lowered electricity prices, while a couple of others have done the reverse, lowered electricity prices, nothing on gas prices. When prices went up they raised on both, surprise, surprise! Scottish Power say they will keep that price fall until April 1st at least. How generous of them to guarantee it for a month. Is this a joke or just an early April Fool?
REPORT This comment has been reported. -
It is not really difficult to say inflation will be down. Inflation is measured by a 'shopping basket' of goods and services and as supermarkets are slashing prices heavily it will reduce one of the major components of the index. Add to that pay freezes and cuts and they counteract the rises we have seen in other areas.
REPORT This comment has been reported. -
Mervyn at The Bank of England said inflation would be lower this year; he was right. I wonder how he knew it would be a mild winter? I predict the next energy price increase will be January 2013, the beginning of the month not the end.
REPORT This comment has been reported.
Do you want to comment on this article? You need to be signed in for this feature
18 January 2012