ScottishPower becomes latest provider to hike prices for a second time this year

The last hike meant bills went up £63 – they will get bigger by another 3.7% from 8th October the company has announced.

For second time in a year prices are rising for almost a million ScottishPower customers.

The last hike came into effect on 1st June, and saw an average £63 a year added to the bills of people on the company’s standard variable tarrif.

But that wasn’t the end of it, with the company saying prices will be rising again – by 3.7% – on 8th October. This time by £46 a year on average.

“We have seen significant increases in wholesale energy costs since April, and like others in the industry, this means that we need to increase our prices,” said Neil Clitheroe, ScottishPower retail chief executive.

“Those customers affected by the price change will be contacted and offered the opportunity to move to a fixed price tariff alternative and avoid this increase.”

The company pointed out the same cost pressures led to Ofgem to announce a 4.4% increase to the prepayment safeguard tariff – the second increase this year – while British Gas upped its prices by £44 a day later .

“Consumers can hardly keep up with the tsunami of price hikes this year,” said Victoria Arrington, spokeswoman for energyhelpline.

“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,” she added.

“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.”

What to do about it

Switching to a cheaper plan can knock hundreds off your bill and get it ‘fixed’ for summer too.

This means your prices won’t fluctuate – which is often what happens with standard tariffs – often the most expensive around.

“Our advice for UK households is to distance yourself from all this by taking control,” said Stephen Murray, energy expert at MoneySuperMarket.

“Compare your current energy prices and switch to a cheaper deal today. It literally takes five minutes online and you can save £250 or more and then ignore all the hype, knowing you are paying lower prices.”

The easiest way to switch your supplier

  1. Head over to a price comparison site like MoneySupermarketGoCompare or EnergyHelpline and see which deals are available in your area.
  2. Enter your postcode
  3. Enter your usage information – For the most accurate comparison results, you’ll also need to input your household’s consumption details. You can get those off your most recent energy bill.
  4. Once you’ve picked your new energy supplier and plan, confirm the switch by providing your full address and bank details (if you’ve chosen a direct debit plan, which are usually the cheapest).

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