Scottish Power launches a new capped rate product

Customers’ prices will be protected until the end of April 2008 and capped rates will fall if Scottish Power lowers its standard tariff.

Karen Darby, CEO of SimplySwitch.com comments: ”This latest capped deal from Scottish Power only represents a 5% saving on an average annual bill. There are many other more competitively priced products available, including British Gas’s Price Guarantee, which is capped until the end of May 2008.

“While it is good news that prices on this capped deal will fall when standard Scottish Power prices are cut, until they do, consumers on a Scottish Power tariff could still be left paying too much for their energy.

“Wholesale energy prices have fallen by over 50% in recent months and so far British Gas and npower have reduced their standard prices for consumers.

"Consumers need to be proactive and seek out the best deal available. There are huge price differences between the various providers and we urge customers to find out how much they could save by switching."