Energy giant loses 100,000 as prices rise

ENERGY giant ScottishPower lost around 100,000 customers as it prepared to increase prices for close to a million households.

The company’s customer numbers fell from five million to 4.9million at the end of the first quarter of this year.

Its earnings rose 306 per cent in its home supply business to £165.8million in the six months to the end of June. ScottishPower said the division had ‘recovered’ from a poor performance last year.

ScottishPower’s average customer consumption increased by 4 per cent yearon-year over the period, which was mainly due to cold weather from the Beast from the East in March.

The figures come after the Big Six energy companies increased prices in a move that hit 950,000 households.

The company hiked its standard variable gas and electricity prices from June 1, with affected households facing an average increase of 5.5 per cent.

ScottishPower attributed the rise to an increase in wholesale energy costs, alongside those associated with upgrading meters and delivering electricity from low-carbon sources.

Keith Anderson, ScottishPower’s chief executive, said: ‘Our investment in onshore wind last year has seen an increase in electricity generated, and progress has been made on delivering the £2.5billion East Anglia ONE project.’