Yet Another Price Increase in 2018 From Scottishpower – Bills to Increase by a Further £46 (£109 Compound) From 8th October

ScottishPower has announced a price rise of 3.7% - After already increasing prices by 5.5% this June

Yet Another Price Increase in 2018 From Scottishpower – Bills to Increase by a Further £46 (£109 Compound) From 8th October
  • ScottishPower has announced a price rise of 3.7% - After already increasing prices by 5.5% this June
  • Average UK customer will pay £46* more per year from 8th October 
  • Comparison website energyhelpline questions the double blow of hikes, and urges customers to switch & save
  • Average Standard Variable Tariff Bills to be more than £100 a month (£1,257 per annum) 

 

Victoria Arrington, spokesperson for energyhelpline says:

"Consumers can hardly keep up with the tsunami of price hikes this year. This second ScottishPower price rise is yet another bitter pill to swallow for millions of households. From 8th October, dual fuel customers on a Standard Variable Tariff (SVT) will see their annual bills go up again with another £46 (3.7%), after they already had to cope with the £63 price hike that came into effect this June. The consumers affected by this price rise face a potential compound increase of £109 added to their bills on average” 

“And with yet another major supplier putting up prices again, one has to question the impact on consumers. These coming price rises may cause serious hardship for many families this Bank Holiday weekend. Temperatures have dropped, but energy prices are rising. With yet another price hike from a major supplier in 2018, it feels like it is only a matter of time before all of the Big Six have hiked up their prices for consumers across the UK.”

“Should ScottishPower’s Standard Variable Tariff customers switch from this tariff to the lowest available on the market as of today, they would save on average £100s*.”

"These double price hikes are starting to feel particularly harsh, especially as the autumn and winter approaches. The cost of sticking to a big-name energy supplier is quickly outstripping the feeling of safety it gives customers.” 

"It is another signal that the current energy market can be volatile. With over 80 active suppliers in the UK*, there is more competition out there for big suppliers than ever. Customers are not going to put up with the hikes for much longer, and with the increasingly popularity of switching quickly and easily online, they don't have to. The customers affected have until the 8th October to switch before the price rise sets in - but the sooner the better. I urge consumers to empower themselves and seek out the best deal possible.”

Big Six price hikes announced: 

  • April 19th – E.on: up to 4.2% increase, average annual bill to increase by up to £50.
  • May 29th – British Gas: 5.5% increase, average annual bill to increase by £60.
  • June 1st – Scottish Power: 5.5% increase, average annual bill to increase by £63.
  • June 7th – EDF: up to 2.7% increase, average annual bill to increase by up to £28.
  • June 17th – Npower:  5.3% increase, average annual bill to increase by £64.
  • July 11th – SSE: 6.7% increase, average annual bill to increase by £76.
  • August 16th – E.on: up to 4.8% increase, average annual bill to increase by up to £55.
  • August 31st – EDF: up to 6% increase, average bill to increase by up to £70.
  • October 8th – ScottishPower: up to 3.7% increase, average bill to increase by £46.

*Price increase amounts and average usage calculated based on average usage, and against an average bill of £1,194 (Average Big 6 energy suppliers’ Monthly D/D payment method standard tariffs) after price rises enacted. Calculations for average usage dual fuel household paying by monthly D/D. Average usage defined by OFGEM is 12,000 kWh pa gas and 3,100 kWh pa electricity. Includes publicly available tariffs available in at least 12 of the 14 regions of UK. Excludes exclusive, collective and staff tariffs not generally available.

 

 

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