In the News - Energy Providers

Scottish Power to pay interest on accounts in credit

Scottish Power has become the first energy provider to answer criticism about energy providers taking too much money on direct debit to keep a customer in credit (last reported in 'In the News' on 27 Mar 09). It has announced two innovations:

1. From June they will do an annual calculation and automatically pay £1 for every £33 that a direct debit customer is in credit on balances over £100 and up to a maximum of £500.

2. Existing Scottish Power customers who currently pay by direct debit or quarterly standing order can get a guaranteed 5% yearly saving (which will stay in line with price changes) if they chose to pay in advance. To qualify, customers will have to pay for a minimum of 1 year's energy in advance and up to a maximum of £20,000. Scottish Power also hopes to make this available to prepayment customers soon.

(Sources: Guardian.co.uk)

Posted by Plebble Admin at 10:31 on 31-Mar-2009