Scottish Power Expects Yet More Price Hikes
Britain's 5th largest energy company says price rises are 'unavoidable'
25th May 2006
Energy company Scottish Power have warned that further price increases are 'unavoidable in the short term' if wholesale gas prices remain at their current record highs.
The warning comes despite the company's March 1st tariff rises of 15% and 8% for gas and electricity respectively, and also against the backdrop of hugely increased profits.
The latest figures released by the firm show their pre-tax profits rose by 47% to £675m in the year 2005/6, although the company points out that it has nearly £5bn of infrastructure investment costs to cover over the next 4 years.
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