ScottishPower to hike gas and power prices
ScottishPower is to increase its household gas prices by 34% and average retail power prices by 9% from Sep. 1, the company said on Friday.
The Iberdrola owned company, like most of its competitors in Britain, blamed soaring wholesale energy prices for the increases, which will mean a typical dual fuel bill will rise by 25%. “These are difficult times and we understand the financial impact this announcement will have on our customers. Although we’re one of the last companies to announce increases we’re sorry we couldn’t hold on any longer,” Willie MacDiarmid, ScottishPower’s Director of Energy Retail, said. (Reuters)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.