ScottishPower announce massive new energy price rises
Right – who’s ready for yet another massive hike in energy bills? Are you sure? Brace yourselves because ScottishPower are upping their prices by an average of 19% for gas and 10% for electricity. Yes, you read that right. Scared? You should be.
The price rises will take effect from 1st August and will see an average increase of a dual fuel energy bill by a staggering 48p per day - £180 per year. Approximately 2.4 million households will be affected by the new prices, although ScottishPower say that 700,000 households won’t be as they’re on capped/fixed deals. The company are blaming the rise on the increased wholesale energy costs, up 30% since last November.
If you fancy betting that the prices will go higher still (and we’d be amazed if they didn’t) you can sign up for a Fixed Price Energy – January 2015 deal, which they say is the longest fixed price deal on the market.
How long will it be before the other suppliers follow suit and also hike up their prices as well? Days probably. Tighten your belts and start kintting for the winter, people...