What To Do If You Are A Scottish Power Customer
Monitor your gas and electricity bills now and find the cheapest rate using the moneymaxim.co.uk Energy Monitor Service.
- Monitor your gas and electricity bills now and find the cheapest rate using the moneymaxim.co.uk Energy Monitor Service
Moneymaxim.co.uk, who run the acclaimed EnergyMonitor* service, which tracks customers gas and electricity bills, comments on the Scottish Power announcement that they are increasing their energy prices by up to 19%.
Whilst this rise has indeed been talked about for the last couple of months the size of it has taken everyone by surprise.
Scottish Power has offered some attractive online variable tariffs over the last year and brought in some very price aware customers who will be appalled by the bill increases that they face, with gas prices rising by 19% and electricity by 10%. Others on standard and prepaid tariffs will be similarly affected. Customers of other suppliers are likely to see steep increases as well as the big utility companies line up to announce their pricing plans.
For an average household the increase is going to add around £175 to the annual bill – but for some, either with heavier than average use or in larger homes, the price rises will be higher still.
Mark Bower from moneymaxim.co.uk, the money saving website said;
“Our advice is if you can’t afford price rises of this scale fix your tariff now – EDF and nPower have some of the cheapest fixed deals over a year, whilst EDF also have an attractive fixed tariff stretching out to 2014 if longer term stability is desired – however these deals are unlikely to be around for long. Last time prices started moving upwards it was the fixed price tariffs that disappeared first.
“For an average house the cheapest fixed rate today would cost a family around £1000 p.a., still about £150 cheaper than the average standard tariff, and almost £400 less than Scottish Power’s standard tariff from August. The cheapest flexible rates currently cost around £930, but whilst there is no certainty that other companies will follow the Scottish Powers’ lead it’s a pretty fair bet many will.”
“We suggest that anyone who is at all concerned runs their personal tariff and usage details through an impartial and independent energy comparison tool such as that available at www.moneymaxim.co.uk/energy .
“They will then be able to understand their current options. Having decided whether or not it’s worth making a switch do also register your details with the free moneymaxim EnergyMonitor service at www.moneymaxim.co.uk/energymonitor .
“This will mean we regularly check your current contract against the best in the market and alert you if there are significant savings to be made. We have already had customer feedback today confirming the reassurance this service delivers.”
Moneymaxim are also reminding users of the rules that apply to the energy giants when increases are announced – knowledge of these can be really useful especially for those who prefer to see what other companies are going to do before decide their move.
Notes:
*About Moneymaxim’s Energy Monitor Service:
Pioneering a new way of keeping the price of gas and electricity down, the EnergyMonitor service from www.moneymaxim.co.uk is saving customers nearly £300 on their annual fuel bills – over 60% more than customers relying on their own memory to check they are getting the best deal. During the period 8th January 2011 to 8th March 2011 moneymaxim customers saved on average £288.59 when switching gas or electricity supplier, compared to the average of £180.25 by a similar firms customers who use the same technology.
Every few months, or after a major market change, moneymaxim.co.uk will monitor registered customers energy usage against all the tariffs covering their postcode, and notify users if annual savings of more than £50 are achievable. Moneymaxim also prompt users before the expiry of any fixed deal so that if a switch is in the customers interest notice can be given at the appropriate time, and the practice of being signed up to a uncompetitive tariff for a further period can be avoided.
The service is free and simple to use taking only a few minutes to save time, effort and a lot of money in the future. Find out more and register at: http://www.moneymaxim.co.uk/free-energy-monitor-service
Energy Rules Explained
Before an increase takes effect any energy company must tell customers what is about to happen. It has 65 working days from the date of the price rise to advise of the increase in writing, which can be done when they next send a quarterly bill. It is also a requirement that they remind users that they have the right to end the contract by switching to another company.
From the date of the notice customers have up to 20 working days to tell the energy supplier that they want to cancel the contract, and as long as the switching process to another company within 15 working days, the price rise should not be applied to the final bill.
As the switching process itself can take five or six weeks existing prices can be held for up to six or seven weeks from the time of official notification. If at any stage the switch is cancelled the increased prices will come into effect
About moneymaxim:
About moneymaxim.co.uk: Launched in 2008 by Mark Bower moneymaxim.co.uk aims to deliver an impartial and independent service both online and through telephone money saving specialists. Visit: www.moneymaxim.co.uk for more money saving advice and information. The website won The Best Niche Insurance Aggregator Award 2010 from The Money Awards.
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