From June 15, 2007, gas prices will drop by up to 16.5% and electricity by up to 5.5%, taking the typical direct debit bill down GBP75 to GBP836 per year, ScottishPower announced.
These price decreases will again take ScottishPower’s standard Gas & Electricity Offer below that of British Gas – a market advantage it has enjoyed for almost all of the last five years.
The decrease follows the recent launch of ScottishPower’s Price Fall product, which, at an average of GBP811 per year, is one of the cheapest offline deals in the UK. This offering also guarantees to pass on future decreases should standard prices fall below Price Fall rates.
The new price structure also means that ScottishPower is now the only UK supplier to support its most vulnerable customers with prepayment rates for both gas and electricity that are cheaper than standard quarterly payment rates.
Between 2003 and 2006 wholesale energy costs rose by over 200% and we have protected our customers from a substantial part of this increase. Now that costs are starting to subside we are delighted to offer our customers one of the cheapest energy products in the market, said Willie MacDiarmid, ScottishPower’s director of energy retail. We can also assure our customers that we are committed to giving them value for money in the longer term and will continue to review our pricing structures.
