Scottish Power pushing up bills for SECOND time – adding £46 a year to bills
The energy firm is hiking bills by another 3.7 per cent for more than 900,000 customers
HUNDREDS of thousands of Scottish Power customers will need to fork out an extra £46 a year for their energy as the provider hikes prices by 3.7 per cent.
It's the second time the energy firm has pushed up prices this year.
The hikes will affect a third of the firm's 3million customers who are on variable dual tariffs and the new prices come in to effect from October 8.
This means that customers paying by direct debit will see bills rise from £1,211 a year to £1,257.
And those on quarterly credit deals will see their payments go up from £1,311 to £1,357.
Scottish Power has blamed the rate rise on increasing wholesale energy costs, the same reason was behind the rise in April.
How to switch suppliers and save £300
SWITCHING suppliers is the best way you can cut your energy bills. But recent research from MoneySuperMarket found that households are throwing away up to £300 a year by not bothering. Here's what you need to do.
1. Shop around - If you're on an expensive Standard Variable Tariff (SVT) deal you are throwing away up to £300 a year. Use a comparison site like MoneySuperMarket.com or EnergyHelpline.com to see what best deals are available to you.
The cheapest deals are usually found online and are fixed deals - meaning you'll pay a fixed amount usually for 12 months.
2. Switch - When you've found one, all you have to do is contact the new supplier.
It helps to have the following information to hand - which you can find on your bill - to give the new supplier:
- Your postcode
- Name of your existing supplier
- Name of your existing deal and how much you pay
- An up-to-date meter reading
It will then notify your current supplier and begin the switch.
It should take no longer than three weeks to complete the switch and your supply won't be interrupted in that time.
For more advice read our guide on how to switch.
The provider will offer all affected customers an opportunity to switch to a fixed rate tariff before hike comes in to affect.
Customers are already facing higher bills after Ofgem increased its cap on variable tariffs by £47 due to the rising wholesale prices.
Neil Clitheroe, CEO Retail said: "More than two-thirds of our customers are on fixed price products or other tariffs not impacted by this price change.
"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."
It's not the only firm to push up prices. British Gas hiked prices by another £44 a year earlier this month - that's the third hike in 13 months.
MOST READ IN MONEY
Millions of households are to be protected by gas and electricity price rises, as MPs approved plans for an energy price cap.
A new report in April also revealed that thousands of British households went without gas or electricity in the last year because they couldn't afford it.
The research by Citizens Advice said that these customers choose between eating or heating their homes, as many were unable to top up electricity meters.
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