Major energy supplier Scottish Power has implemented a ten per cent cut to its Price Sure fixed rate tariff in response to low oil prices.
The reduction means that Scottish Power customers on the Price Sure tariff will save around £80 a year, something that will benefit households which have been struggling with the lack of cheap energy since prices rose dramatically through the course of last year. Energy suppliers have been under pressure to introduce cheap energy rates to reflect the $100 reduction in the price of a barrel of oil since last summer.
The number of fuel poor households in the UK, or households whose energy bills account for more than ten per cent of their income, is thought to have reached more than five million over the past year. Many pensioners are reportedly leaving their homes unheated in order to be able to afford weekly shopping.
Consumers are advised to shop around for the best deals from energy suppliers while bearing in mind that market prices are expected to fall within a few months.
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