ScottishPower reduces gas prices by 4.8%

Another of the big 6 energy firms is knocking money off it’s gas prices, following E.ON and British Gas.

ScottishPower has announced a reduction in its standard domestic gas prices of 4.8% from 20th February.  ScottishPower has also announced a new fixed-price tariff which is one of the most competitive in the market place, with an average dual fuel bill value of £930.
Neil Clitheroe, ScottishPower’s CEO of Retail and Generation, said:
“We are pleased to be able to pass on this price reduction to our customers, which will see the average annual gas bill on our standard tariff reduce by £33.
“Today, we have also launched a new fixed-price tariff which is one of the most competitive in the marketplace, with an average dual fuel bill value of £930. All ScottishPower customers can take advantage of our best deals by contacting us or visiting our website. Customers already on fixed-priced tariffs can also move between our tariffs at any time, without paying any exit fees.
“Today’s decision has been made to benefit our customers and keep our prices competitive. We will continue to keep our prices under review.  Our pricing reflects all of the costs that contribute to a customer’s bill. The wholesale price of energy accounts for half of a customer’s gas bill, but non-energy costs such as transmission and distribution networks and environmental and social obligations remain unaffected by any wholesale energy price movements.”
Responding to Scottish Power’s announcement to cut domestic gas prices by 4.8%, Secretary of State for Energy and Climate Change Ed Davey said:
“Competition is hotting up and customers will see the benefits. With the market getting more competitive there’s even more pressure on other energy companies to drop their prices.
“If people aren’t seeing price cuts now is the perfect time to check their tariff and see what deals are on the market. Switching suppliers is quicker and easier than ever before as part of our work to cut energy bills and reform the market.”
What makes up a gas bill?
For every £100 spent by a gas customer, the typical breakdown of costs is shown below:
Scottish power web

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