After SSE, EDF & Npower, as expected Scottish Power has also increased gas and electricity prices on Friday. Customers will see rise by £86 a year on energy bills. It announced hike of 7.8% in dual fuel price with 10.8% on electricity and 4.7% on gas. Due to this, approximately 1.1 million of it's customers will have to pay more. It will affect domestic gas and electricity standard prices by 31 March 2017.
Scottish Power said increment in wholesale energy prices is responsible for this price rise. Last week Npower raised dual fuel prices by 9.8% and before that EDF by 1.2%. On the contrary, British gas has frozen energy price until August. The was speculation in media that British Gas decided to raise prices by 9%, but suddenly there is a news that they are not going to raise prices. It is still cat on the wall and no one is sure if they would also follow the other suppliers in hiking the prices.
Scottish Power explains its price rise - £54 was a result of the higher wholesale prices, £18 for government levies for environmental schemes, £10 for smart metering and £4 for VAT. (SOURCE - theguardian.com)
Now, to reduce your spend and to negate the price rise, all you have to do is compare your gas and electricity prices with other suppliers in the market and find cheaper deals to save money on your energy bills.
There are a large numbers of energy comparison websites available for your help. However, you should think before doing it because all websites are not trustworthy. Select Ofgem accredited website and perform gas and electricity comparison.
For any kind of doubt, just call us @01183150930 and our energy experts will help you.