ScottishPower prices rise by 7%
ScottishPower has announced it is raising its domestic gas and electricity prices by an average of 7%. It follows in the footsteps of British Gas and npower who revealed price increases on Friday.
ScottishPower has announced it is raising its domestic gas and electricity prices by an average of 7%. It follows in the footsteps of British Gas and npower who revealed price increases on Friday.
Adam Scorer from Consumer Focus, has criticised the "safety in numbers" approach to energy price rises and the impact it will have on energy customers over winter. He said:
"The volley of price hikes all coming in during the winter period will fuel consumers concerns about the energy market."
"This does not mean that wholesale price pressures are not real, that companies don't need to make a profit or that companies should not act to minimise the impact of a price rise on their reputation."
"The fundamental issue on consumer trust is whether or not price rises are justified. No-one welcomes a price rise. But when half the market raises prices in just four days, consumers will question whether this is in response to volatile commodity costs or just pack behaviour."
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