ScottishPower to hike gas and power prices

Retail

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)

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