Scottish and Southern raises prices
April 13, 2008
Earlier this year, when the other five major energy suppliers hikes up their energy usage prices, Scottish and Southern Energy promised that it would keep prices on hold until the end of March. Although the firm lived up to its promise that time has now come around, and the last of the six major energy suppliers in the UK has now announced that it will be increasing its gas and electricity usage costs from April.
Officials from the firm state that electricity prices are set to rise by around 14.2% and gas prices by around 15.8%. Industry experts state that now the last of the energy giants has increased its prices all households will be paying average energy bills of over £1000.
One industry official said: “It means the average standard quarterly cash or cheque tariff for medium users of gas and electricity will be over 1,000 pounds with all of the big six energy giants.”
The other five major suppliers hiked up their energy usage prices earlier in the year, and this included British Gas, Npower, E.on, Scottish Power, and EDF Energy. Scottish and Southern is the last of the suppliers to hike up rates, with all energy suppliers stating that the reason behind the price hikes is that the cost of wholesale energy has risen. Scottish and Southern is said to be the cheapest of the suppliers by a fractional margin, despite the price hike.
One energy watchdog official said: “As the last UK energy supplier to put up its prices this year, SSE has missed out on around 400 million pounds in revenue, to the benefit of its eight million customers who have each saved around 50 pounds this winter. It has not been all bad news for the supplier: as the company with the cheapest standard energy tariffs for the last two months, it has picked up tens of thousands customers who’ve chosen to switch.”
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