Energy prices hiked by 15%

SCOTTISH Power has become the latest energy supplier to announce inflation-busting price rises.

The group, which has 5.2 million customers, said electricity prices will rise by an average of 14 per cent, with gas prices up by 15 per cent.

The move follows double-digit price hikes last month from rivals British Gas, Npower and EDF.

Scottish Power said customers with dual-fuel tariffs faced an average increase of 14.8 per cent. The new prices come into force from tomorrow, but will not impact 1.2 million customers on capped or fixed price deals.

The Glasgow-based firm, which is owned by Spanish energy firm Iberdrola, said the increases were necessary after the cost of coal rose by 97 per cent and wholesale gas prices lifted by 83 per cent on February last year.

Scottish Power said its bills were still cheaper for combined gas and electricity than those offered by British and Scottish Gas.

Director of energy retail Willie MacDiarmid said: "We have worked hard to protect our customers from these increases for as long as possible and offer consistently competitive energy prices."