If you’re on Scottish Power’s standard variable tariff, you’ll see your gas and electricity bills increase by 5.5% from June. This will add £63 to the annual bill of the average customer.
The Big Six energy firm’s announcement today will affect 950,000 customers. Scottish Power is the fourth of the biggest six energy firms to announce increases to customers’ bills this year.
Its June increase will make its standard variable tariff the most expensive of the Big Six companies. It will cost £45 more than the next priciest standard tariff from Npower.
British Gas and EDF both increased their standard tariff prices in the past fortnight. Previously, Eon announced it was cutting discounts for some of its customers.
In total, around 6.35m households have been affected by price rises this financial year.
Beat the price hikes: compare gas and electricity prices using Which? Switch to make sure you’re not overpaying for energy.
Scottish Power customers: are you affected?
If you’re a Scottish Power customer with a fixed-term deal, you’re not immediately affected by the price increase. Your bills are fixed until the end of your deal.
But customers on Scottish Power’s standard variable tariff will see their bills increase from 1 June. Then the standard tariff will cost £1,211 per year for the average energy user*.
Switching from Scottish Power’s standard tariff to the cheapest dual-fuel energy deal currently available could save customers up to £380 on average per year. Once the price increase takes effect, the saving will increase to £443 per year.
Neil Clitheroe, global retail director at Iberdrola, which owns ScottishPower, said: ‘We will be contacting all customers affected by the price change to give them the opportunity to move to a fixed-price tariff alternative and avoid this increase.’
Scottish Power will no longer automatically move customers on to its standard tariff when their fixed deal ends.
Price isn’t everything: find out what Scottish Power customers really think of it.
Why is Scottish Power raising its energy prices?
Increases in wholesale gas and electricity costs, plus costs to upgrade meters and low-carbon electricity costs are among the reasons for the price increase, Scottish Power said.
Which? Managing Director of Home Products and Services, Alex Neill, said: ‘This price hike is a kick in the teeth for hard-pressed energy customers, who sadly won’t be surprised at another big price rise from another big energy company.
‘We would urge all Scottish Power customers not to just accept this rise, they should compare and switch now as they could potentially save up to £398 a year.’
Which? energy pricing research
*Prices are based on a dual-fuel tariff available in all regions in England, Scotland and Wales for an average user (using Ofgem averages of 3,100kWh of electricity and 12,000kWh of gas per year), paying by monthly direct debit, with paperless bills. Data is from Energylinx. Prices given are averages across regions, are rounded to the nearest whole pound and correct on 20 April 2018.