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Gas prices set for 19% rise

Marghaid Howie
by Lovemoney Staff Marghaid Howie on 13 June 2011  |  Comments 6 comments

ScottishPower announces shock 19% gas price rise as the next round of price hikes look set to kick off.

Gas prices set for 19% rise

UK consumers should consider switching to fixed rate tariffs as quickly as possible, before suppliers withdraw the best deals amid a second wave of price rises. British Gas and SSE had already hinted at price rises due to soaring wholesale prices, but ScottishPower’s announcement last week of a huge 19% gas price hike and 10% on electricity came as a major shock.

It is expected that the other energy suppliers will be quick to follow suit, so customers are being urged to switch to fixed tariffs before then. ScottishPower’s average price rise of 15% (across gas and electricity combined) comes into effect on August 1st, only eight weeks away, and switches can take up to six weeks to go live.  This price rise would take the typical UK bill to over £1,300 per year* - over £100 a month.

But don’t despair – take action. You can lock in an average price of £84 per month until next September, and nearly three years for £90! If energy bills were to keep rising by an average of 15%, this could save you £643! What are you waiting for?

Supplier

Tariff

Cost

Typical Saving**

Notes

EDF

Fixed S@ver v2

 £       1,009

 £        141

Prices fixed until 30th Sept 2012

nPower

Go Fix 6

 £       1,014

 £        136

Prices fixed until 31st July 2012

Ovo

New Energy Fixed

 £       1,050

 £        100

15% green electricity. Prices fixed for 12 months

EDF

Fixed Price 2014

 £       1,084

 £          66

Prices fixed until 31st March 2014

Scottish Power

Capped Price Energy June 2013

 £       1,085

 £          65

Prices capped until 31st May 2013

Ovo

Green Energy Fixed

£ 1,113

£ 37

100% green electricity. Prices fixed for 12 months

Scottish Power

Fixed Price Jan 2015

£ 1,214

-£ 64

Prices fixed until Jan 2015

E.ON

Fixed Price 5

£ 1,232

-£ 82

Prices fixed until July 2013

British Gas

Fixed Price June 2012

£ 1,240

-£ 90

Prices fixed until June 2012

British Gas

Fixed Price March 2013

£ 1,307

-£ 157

Prices fixed until March 2013

* Based on an average household on standard tariff paying quarterly on receipt of bill.

** Based on typical tariff costing £1,150 p.a. Based on Dual Fuel, payment by monthly Direct Debit, average usage as set by Ofgem.

 Compare energy tariffs at lovemoney.com

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Comments (6)

  • bradportfleet
    Love rating 0
    bradportfleet said

    I can't help but agree jamie, since privatisation of all the major untilities prices have risen rapidly flargely funded by - as you say - the fat cats need to gulp on more cream why we at the bottom have to lick the remaining drops. Like everything else innthis country, price rises are inevitable and the more we do nothing about it the worse it will become. We simply moan for a couple of days and then sit on our behinds and do nothing collectively about it, the thing is, the big companies know this and act accordingly.........increase prices with a 'bugger them all' attidude. I believe there is a way to act without harming ourselves. All of the major companies boast annually increasing profits be it Tesco's, Shell, British Gas.....whoever, at our expense. The way to get back is to boycott the larger concerns, it does not matter which one as it will only take one company to start losing turnover before they have to act and drop prices. My only concern is how do we start this? If we ALL shopped at ASDA, ALL bought our petrol from BP, ALL bought our gas from British gas we could force a change.

    To continually boast of increased profits at our expense is, quite frankly, criminal and the government should stop it........but why should they, it is cerastinly within their interests as driectors of some of theses large corportaions to keep prices and profits high. Wahat we really need is a government for the people of this country, a patriotic governmnet who will put us first before spilling millions of pounds in aid to other countries that in some cases have a faster growing economy than us.

    Another thing we have to remember is who owns these big corporations....the Germans, French and Spanish......have not heard of any of these complaining about any financial crisis mainly because they are too busy taking our money from our country to bolster their own economy..........

    Come on Britain, where has our backbone gone? Lets show a little more fight, a little more resolve to help ourselves and others and get this country back on its feet for OUR benefit..........not the banks, politicians and immigrants - sorry, but everyone else seems to be getting our money but the people who earn it........

    Report on 14 June 2011  |  Love thisLove  0 loves
  • calibre
    Love rating 2
    calibre said

    Since Thatcher sold off the countries assets to foreign companies ,at knock down prices the Uk has lost control of its economy.Started to live off Banking as if a 2 year old couldn,t see its basic flaw.

    Our competitors abroad clapped their hands in glee...no other economy ever had done this and after destroying manufacturing in the UK ,well what a fine conservative deed that was.

    The govt should take control of all the Energy and Utility companies to moderate their rapacious greed . and restore some efficiency.......they may have an incentive to do it by using them as employment soaks for oxbridge grads.once again.

    Report on 15 June 2011  |  Love thisLove  0 loves

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