Price cut from Scottish Power

Commenting on today's price cut from Scottish Power, Scott Byrom, utilities manager at moneysupermarket.com said: "Scottish Power has certainly laid down the gauntlet today by undercutting its 'Big Six' rivals in the UK energy market with their Online Energy Saver 7 tariff. The average annual bill for this product is £952.36, however this change fails to undercut the prices announced yesterday by new entrant OVO Energy. The ‘New Energy' plan from OVO Energy remains the cheapest online dual fuel tariff at £920.68 a year. With two major price cuts in two days there is a real chance the rest of the players in the energy market will soon retaliate, which would mean more good news for UK bill payers.

"The real stand out winners from today's move are Brits living in the East Midlands. For these bill payers the cut to Scottish Power's Online Energy 7 tariff means annual tariffs of less than £900 a year; the cheapest annual tariff across the whole of the UK, and even less than the offering from OVO Energy. Anyone in this area who has never changed supplier and is still on the incumbent provider could save £350 a year by changing onto Online Energy 7- a tidy sum in today's belt-tightening climate.

"I urge anyone looking to make a real saving on their energy bills to shop around now for the best deal for their usage and region. Online tariffs have the best prices at the moment and consumers should be looking at the deals available and making the switch now to reduce their bills before the cold winter months set in."