Scottish Power have warned that further price rises are ‘unavoidable’ in the near future, despite the company releasing details of a 47% rise in profits.

The energy company, Britain’s 5th largest, saw its profits rise to £675m in 2005/6, following what it described as ‘increased operational performace’.

Scottish Power have already recently upped its gas and electricity prices by 15% and 8% repsectively, but have warned that unless wholesale energy prices drop then it will be forced to raise them again in order to protect plans of increased capital spending on renewing its energy generating infrastructure.

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