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Scottish power prices

Last post Sat, Dec 13 2008, 3:37 PM by Mr Spock. 1 replies.
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  •  Sat, Dec 13 2008, 3:37 PM

    Re: Scottish power prices

    Hi Twee

    Will start by saying I have been a scottishpower customer for years, for both gas and electricity and always find them fair in their pricing, they have certainly saved me money over the years. Their Online Energy service, for which I am on, is fantastic, offering the only real time balance summary, than the other suppliers online service.

    Being online you also get to see their best tariffs, I fixed mine earlier this year, till 2011, with no penalties, something you dont normally get from other suppliers, and now, taking the lead again, they have offerred a new "Capped Price 1st April 2010" which guarantees if their prices drop then yours will, on this deal, but if they go up, they will be capped. The premium for this is only £2 for gas & electricity, or if your just electricity a £1 a month.

    All the suppliers are in the same boat for energy prices, infact BG have stated for the record that only if wholesale prices continue to stay the same or fall further they will only drop theirs from March/April. Remember suppliers buy their gas on long term contracts, despite the recent drops in the wholesale prices, they are only at the levels now that they were at before Christmas, 2007, so realistically, they shouldnt have dropped prices, in early 2007, and left them at the same levels, however, public pressure was all for cuts, and clearly they happened, however, now as with the wholesale market, they went back up faster than anyone anticipated.

    Even Scottish & Southern are hurting, normally the cheapest, by a few pounds, as they held off increasing their prices in the summer, to the last minute, however, their shareholders were happier in the increased customer numbers, now 8 million, but werent happy the increase in customer base, against not increasing their prices, dropped their half year profits from 664 million (sept 07) to 302 million (sept 08) so despite them saying they will drop prices in the new year, from their profits point of view, i dont really expect them to do so.

    So in real terms i personally dont expect any supplier to drop their prices, if you are concerned about prices, is this because of your current product then your on the best site for comparison purposes

    • Post Points: 5
  •  Sat, Dec 13 2008, 11:45 AM

    Scottish power prices

    Has anyone got any idea when SP (amonst many others) will be dropping their prices - because as I see it - the wholesale price of fuel has dropped 50% in the last 6 months - they were quick enough to pile on the misery when prices increased - so when will the prices reduce again ?

    • Post Points: 20