Co-operative Energy announce 5% price rise
Co-operative Energy are to rise prices for the 2nd time in six months
Co-operative Energy are to rise prices for the second time in six months, after today announcing that they are increasing the cost of their standard tariff by 5%.
The price increase will affect 96,000 households who are currently on Co-op’s Green Pioneer variable tariff, and will now cost the average household £56 more at £1,179 a year.
This Co-op price rise follows the trend in 2017 of suppliers increasing prices, with EDF Energy, npower and Scottish Power having already broadcast rises that are set to affect millions of households.
Co-operative Energy have commented: "We try to protect customers from price fluctuations wherever possible. In recent months, however, we have absorbed a number of rising costs, including network charges and industry obligations.
"We are in the process of writing to customers to notify them of this change now so that they can switch to a cheaper tariff if they choose."
Following Co-op Energy’s second price rise, Mark Todd, founder of switching service, energyhelpline, made the following comments:
“A second price rise from Co-op Energy comes as a devastating blow for their energy customers. A 5% increase on gas and electricity on 1st April follows the company’s 3% rise in October. Coming on April Fool’s Day it’s no joke to customers who will now be facing some of the highest bills possible if they stay with Co-op on their standard tariff.
In total, across the last six months, Co-op Standard tariff prices will have increased by 8% to £1,179 a year once this second price rise comes into effect making it more expensive than all the Big Six energy company’s standard tariffs bar npower. Co-op Standard customers can save an average of £345 a year in a few minutes by switching.”