Staggering 20.5 million households face inflation busting energy bill rises to date.

24th October 2013

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Scottish Power is to increase prices by 8.6% affecting 2.2 million customers from the 6th of December. It has become the fourth of the big sixth energy suppliers to increase energy prices.

The average Scottish Power bill to rise by £118 and it has Energy giant has increased prices by £137 since December 2012.

Around 20.5 million households have been hit with rises so far.

Clare Francis, (pictured) editor-in-chief at MoneySuperMarket.com says“Scottish Power is the latest energy supplier to add to bill payers’ woes by announcing an 8.6 per cent rise to prices. With effect from 6th December, 2.2 million customers will see a £118 hike in their bills, a total rise of £137 over the last year alone.

“So far over the last week 20.5 million households have been hit with bill increases from four of the “Big Six” energy companies and it’s only a matter of time before the remainder – EDF Energy and e.on announce further increases. The message to switch however seems to be hitting home, last Thursday we witnessed a huge increase of 1,556 per cent in customers applying for new tariffs through MoneySuperMarket after British Gas made its announcement, a clear sign that bill payers are starting to take power into their own hands to bring down the cost of their energy.

“This is great to see as the vast majority of households have never switched energy provider and as a result are paying over the odds for their gas and electricity. We’ve still got a long way to go before switching becomes habitual but it appears as though this latest round of price hikes could prove to be the tipping point needed to change behaviour and prompt people to act.

“Bill payers can save on average £171 by switching to the cheapest fixed tariff. iSave Fixed v11 from First Utility guarantees to fix your price until May 2015 and, with an average bill of £1,171.97, it is £315 cheaper than the average standard tariff from Scottish Power. Longer-term fixes are also available from EDF Energy, npower and even Scottish Power, all promising to fix prices until 2017 with average bills now beating standard offerings from British Gas, SSE and Scottish Power.”

Ann Robinson, Director of Consumer Policy at uSwitch.com, says: “Unfortunately, the floodgates have opened and it looks like consumers are going to be buffeted by suppliers in very quick succession. The danger is that these hikes are sweeping households towards a cliff edge – when bills hit £1,500 a year this will be the tipping point where many will have no choice but to go without heating. This will have a serious impact on health and well-being.

“I would urge consumers to sit up and take action. If these price hikes are going to be a deal-breaker for you then I would urge you to look at one of the competitive fixed price tariffs currently available which can help you to freeze your prices for anything up to four winters. And rather than switch your heating off or take chances with your health by going cold, think about making your home energy efficient instead. If cost is a problem, look at the Government’s Green Deal scheme or speak to your supplier. Using less energy and paying less for what you do use are everyone’s best protection against the high cost of energy today.”

Effect of winter energy price rises so far***

Supplier Annual bill in August 2013 Price rise (%) Annual bill after winter 2013 price rises Difference (£)
British Gas £1,311.48 9.2% £1,432.14 +£120.66
SSE £1,308.17 8.2% £1,415.44 +£107.27
Npower £1,304.87 10.4% £1,440.58 +£135.71
E.ON £1,315.33 TBC TBC TBC
EDF Energy £1,291.55 TBC TBC TBC
Scottish Power £1,319.70 8.6% £1433.10 +£113.40

***Based on a medium user (3,300 kWh of electricity and 16,500 kWh of gas per year), with a dual fuel standard tariff; averaged by payment method (monthly direct debit, cash and cheque, or on receipt of bill); and averaged across all regions

 

Top deals on Moneysupermarket.com

Top 5 Energy Deals
Provider Tariff name Tariff Type Average price
Spark Spark Advance 2 Variable £1,116.41
First Utility iSave Fixed v11 May 2015 Fixed £1,171.97
Scottish Power Online Fixed Price Energy March 2015 Fixed £1,181.14
EDF Energy Blue+ Price Promise March 2015 Fixed £1,183.04
Scottish Power Online Fixed Price Energy December 2014 Fixed £1,204.51
Sourced by www.moneysupermarket.com 24.10.2013
Top 5 ‘Big Six’ Energy Deals
Provider Tariff name Tariff Type Average price
Scottish Power Online Fixed Price Energy March 2015 Fixed £1,181.63
EDF Energy Blue+ Price Promise March 2015 Fixed £1,183.04
npower Price Fix April 2015 Fixed £1,202.31
Scottish Power Online Fixed Price Energy December 2014 Fixed £1,204.51
e.on Fixed 1 Year v4 Fixed £1,221.58
Sourced by www.moneysupermarket.com 24.10.2013
Top 5 Long Term Fixed Energy Deals by duration
Provider Tariff name Tariff Type Average price
npower Price Protector December 2017 Fixed £1,367.00
EDF Energy Blue +Price Freeeeze March 2017 Fixed £1,339.70
Scottish Power Help Beat Breast Cancer Fixed Price January 2017 Fixed £1,339.72
First Utility iSave Fixed v10 January 2016 Fixed £1,274.06
Scottish Power Platinum Fixed Energy October 2015 Fixed £1,378.38
Sourced by www.moneysupermarket.com 24.10.2013

 

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