ScottishPower today announced energy price cuts for domestic customers and launched one of the cheapest dual fuel products in the UK market. From 15th June gas prices will drop by up to 16.5% and electricity by up to 5.5%. These price decreases will again take ScottishPower’s standard Gas & Electricity Offer below that of British Gas-a market advantage it has enjoyed for almost all of the last five years. The decrease follows the recent launch of ScottishPower’s Price Fall product, which at an average of £811 per year, is one of the cheapest offline deals in the UK. While offering savings today and shielding customers from any potential increases until October 2008, the offer also guarantees to pass on future decreases should standard prices fall below Price Fall rates. The new price structure also means that ScottishPower is now the only UK supplier to support its most vulnerable customers with prepayment rates for both Gas and Electricity that are cheaper than standard quarterly payment rates. ScottishPower is also launching the Savings Challenge encouraging existing customers to ensure that they are on the company’s best deal. Over 80% of ScottishPower customers could pay less by making simple changes to their energy account – eg switching to Direct Debit could save up to £125 and managing accounts online up to a further £64. Willie MacDiarmid, ScottishPower’s Director of Energy Retail, said: “Between 2003 and 2006 wholesale energy costs rose by over 200% and we have protected our customers from a substantial part of this increase. Now that costs are starting to subside we are delighted to offer our customers one of the cheapest energy products in the market. We can also assure our customers that we are committed to giving them value for money in the longer term and will continue to review our pricing structures”.

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