ScottishPower cuts gas and electricity prices

ScottishPower has announced reductions in its gas and electricity prices effective from 31st March 2009. Prices for gas customers will drop by an average of 7.5% and electricity bills by an average of 3%.

Willie MacDiarmid, ScottishPower’s, Director of Energy Retail, said: “We protected our customers by being the last to increase tariffs towards the end of 2008 and, following today’s announcement, ScottishPower is one of only two suppliers to implement cuts for both gas and electricity customers this year.

“The past year has seen unprecedented volatility in the wholesale energy market and the future outlook remains challenging.

“Although wholesale prices have fallen recently, the market remains volatile. Currently forward wholesale prices for Gas are 46% higher than in February 2007, while electricity costs have increased by 40% over the same period. Against this backdrop 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.”

From 31st March 2009, an average ScottishPower dual fuel customer paying monthly by Direct Debit will see their bill drop to £1156 per year, a reduction of £54. Even after recent reductions this is cheaper than an average annual dual fuel from British Gas and maintains ScottishPower’s record of being cheaper than British Gas for almost all of the past 7 years.

ScottishPower also offers support for its most vulnerable customers through the recently announced Fresh Start social tariff scheme. Under this package customers over 60 and in receipt of qualifying state benefits can save more than £200 per year. In addition, ScottishPower is the only UK supplier to set standard Prepayment prices significantly below standard Cash rates for both gas and electricity.