From 1st August 2011 domestic gas bills will increase by an average of 19% and domestic electricity bills by an average of 10%. The increase will affect approximately 2.4 million households.
The company will begin notifying affected customers from 11th June 2011, giving them at least 30 days notice before the price change is due to take effect and advising them of the options available.
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An affected Dual Fuel customer paying monthly by Direct Debit will see an average increase of 48p per day. This follows a 30% increase in the cost of wholesale energy for an average Dual Fuel customer since November 2010.
Of significance is that 700,000 (22.5%) of the households supplied by ScottishPower on Fixed or Capped Price Energy deals will be protected from the increases until their deal comes to an end. In addition more than 70,000 vulnerable customers will continue to benefit from discounted prices through the Fresh Start tariff. Although this tariff has also increased as part of this price movement (first increase of this tariff since it was introduced in January 2009) customers on Fresh Start could benefit from annual savings of up to £452 compared to standard quarterly prices.
(BMcN/GK)
