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.
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