The electricity and gas price cuts announced earlier in the year by the large
utility have finally come into effect.
The supplier arm of the company has reduced its household prices by around 16.5% for
gas and 6% for electricity.
 The
company announced the cuts at the beginning of May, becoming the sixth and final
of the 'big six' suppliers to cut its customer’s energy bills. The change came
into affect on June 15th.
ScottishPower claims that the ‘typical direct debit bill will be down £75 to
£836 per year’.
The first supplier to cut its bills was British Gas, back in February and then
again in April. Powergen and NPower also announced cuts in February, with
Scottish and Southern energy joining in March.
The two remaining providers - EDF Energy and ScottishPower - were both denounced
by Ofgem for not joining the price war, and finally, both announced they would
be cutting prices in April, with ScottishPower’s coming into affect this month.
Willie MacDiarmid, ScottishPower’s Director of Energy Retail, said: “With the
reductions taking effect, we’re even further committed to ensuring our customers
receive value for money and the best value ScottishPower deal for them”
ScottishPower says that more than 80% of its customers could pay less by making
simple changes – for example switching to Direct Debit can save up to £125 and
online account management can save a further £64.
But many industry commentators have condemned the price cuts, with
uSwitch.com calling them ‘selective’ saying that while direct debit
customers will benefit substantially from the change, people who pay by cheque
or cash are left out, with a small cut in gas and no change in electricity.
Sources:
http://www.fairinvestment.co.uk
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