11:29

ScottishPower has become the fourth of the big six energy suppliers to announce a second price rise this year, in response to rising wholesale prices.

Around 900,000 customers on the firm’s default tariff will be hit with a £46 price hike from 8 October, pushing up their annual dual fuel bill 3.7%, to £1,257. The bad news for consumers comes on top of a 5.5% hike by ScottishPower in June.

The company, which is owned by Spanish energy giant Iberdrola, blamed wholesale electricity and gas costs, which it had said had increased more than a fifth since April. Analysts have warned householders to expect further price rises, and one challenger firm, Bulb, has told customers a third rise this year is likely.

