Energy News

Scottish Power cuts gas and electricity prices

Monday 2 March, 2009

By Becca Talbot becca.talbot@consumerchoices.co.uk

Energy giant Scottish Power is the latest supplier to cut its prices.

Scottish Power (www.scottishpower.co.uk), which has 5.2 million customers in the UK, will reduce its standard gas prices by 7.5%.

Customers will also see their electricity bills fall by an average of 3%. The price reductions from Scottish Power follow cuts by four of the other big energy companies. The new prices take effect on 31 March.

Willie MacDiarmid, Scottish Power’s director of retail energy, said: “Although wholesale prices have fallen recently, the market remains volatile. We are working hard to protect our customers from this volatility and ensure that we offer the best possible value and service over the longer term.”

Highlighting the fact that Scottish Power was the only one to join Scottish & Southern Energy in cutting both gas and electricity prices, MacDiarmid continued: “The past year has seen unprecedented volatility in the wholesale energy market, and the future outlook remains challenging.”

Scottish Power said that an average dual fuel customer paying by direct debit would see their annual bill drop by £54 to £1,156.

The move by Scottish Power means that npower (www.npower.com) is the only one of Britain’s “big six” energy suppliers yet to confirm price cuts.

Chris Eagle, commercial manager at EnergyChoices.co.uk said: “While the price cuts from Scottish Power are welcome news, the cuts are minimal and will do little to reverse the impact of last summer’s huge gas and electricity bills.”

Eagle advises customers to switch energy suppliers to reduce bills, warning that savings on your current tariff may not be as high as expected: “The energy suppliers’ small price cuts still leave a lot to be desired. It’s important you make sure you’re on the right tariff to save you the most money.”

Compare energy prices >>>

Complete guide to energy efficiency >>>