Price Rise Alert: Scottish Power hikes prices by 5.5%

October 10th, 2019

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Scottish power has announced an increase of 5.5% which will affect 960,000 (33%) of its customers. Luckily those on fixed rate deals and prepayment meters will not be affected.

The majority of Scottish Power customers pay by direct debit, which is the cheapest way to pay for you bills. However for those who are on the standard variable tariff (SVT) and not paying by direct debit, the average price increase is actually 6.9%

Why has Scottish Power increased prices?

According to Scottish Power’s Chief Executive Office, Neil Clitheroe, the increase is due to “rising wholesale energy costs and compulsory non-energy costs”

The company will also be “contacting all customers affected by the price change to give them the opportunity to move to a fixed price tariff alternative and avoid this increase.”

How can I get around the price hike?

Regardless of which energy supplier you are with, the standard variable tariff is the most expensive tariff offered by your energy supplier and there are no exit charges so it is highly recommended that you compare and switch to a cheaper supplier. Alternatively you can stay with your current provider but switch to their fixed rate tariffs which will not be the cheapest in the market but it will be cheaper than the company’s standard variable tariff.   

Switching to a cheaper energy deal is very easy with FreePriceCompare as you can actually compare and select the cheapest supplier from our results page in 5 minutes.

Once selected, FreePriceCompare will handle the whole process for you, including letting your previous supplier know that you would like to switch energy suppliers. The whole process takes around 21 days and you are guaranteed to be never left without gas or electricity supply.

Please note if you are in a contract, you can be subjected to exit fees so you can either wait for the contract to come up for renewal or you can switch now if the savings are significant. Remember tariffs can go up in price, so if you can save a lot of money by paying the exit fees then it is worth a serious consideration.

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