The big six energy supplier will cut the prices of its standard dual-fuel tariffs from January 31 as a result of changes to the Government's green levies. The reduction will affect around 2.2 million householders. An average householder paying their bills by Direct Debit will see an average reduction of £42 a year.
It's also been announced that all customers will receive a rebate of £12 from the Warm Home Discount, which will be funded differently in the future. Whereas it is currently funded through levies imposed on energy bills, the Warm Home Discount will now be funded through general taxation.
ScottishPower only implemented price rises of 8.5 per cent on gas and 9 per cent on electricity last month (December).
Customers currently signed up for ScottishPower's fixed-price energy products won't see their bills fall. The supplier stated that they were already protected against green levy price rises.
Speaking about the price cuts, ScottishPower, stated: "At present, 97 per cent of customers on fixed price products already have a lower bill value than these new standard tariffs. These customers were protected from the rising cost of green levies as they were not impacted by our recent price rise.
"Once these products reach the end of their term, these customers will receive the benefit of this reduction," the supplier concluded.
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