Co-operative Energy announces second price rise in six months
Co-operative Energy is putting its prices up by 5% or £58 for gas and electricity from 1st April, 2017
This is Co-operative Energy’s second price rise in six months after a 3% (£32) rise in October 2016, adding a collective £90 to bills
From April nearly 100,000 dual fuel customers’ bills will go up from £1,121 to £1,179 a year – the equivalent of almost £6 million across the country
Its standard tariff will now be £345 more expensive than the cheapest deal on the market
Co-operative Energy’s hike comes hot on the heels of price rises from EDF, npower, ScottishPower and a raft of smaller suppliers
Energy customers could save up to £618 by switching supplier.
Co-operative Energy is the latest energy supplier to increase the price of its standard dual fuel tariff. The increase of 5% will add £58 a year to bills and comes after a 3% price rise in October 2016, adding a collective £90 to bills in six months. Today’s news will affect nearly 100,000 Co-operative Energy customers, adding a total of almost £6 million per year to household bills.
Commenting on the news, Claire Osborne, energy expert at Uswitch.com, says: “Any price rise is disappointing news for consumers, especially when it affects those people already overpaying on poor value standard tariffs. However, two price rises within such a short space of time is a real double whammy for loyal customers.
“This is yet another reminder that loyalty doesn’t pay. Co-operative Energy customers across the country now face the prospect of paying £58 more for their energy this year – and on top of October’s price rise, they will be paying £90 more for their energy. With one in three working families already struggling to pay their energy bills – and the cost of living set to rise across the board – any price rise will have an impact on the bottom line for families struggling to make ends meet.
“As ever it is customers already paying over the odds for their energy who will be hit by this price rise. Those already overpaying for their energy on this tariff shouldn’t just wait for it to become that bit more expensive – they should switch and fix today, not only to save money in the here and now but to also protect themselves against any future price rises. You can save up to £618 by switching energy supplier and protect yourself against any further price rises by choosing a fixed deal.”
Find out how you could save over £1,000 a year with Uswitchhere.
FOR MORE INFORMATION
Ailene Barr
Phone: 020 3872 5610
Email: ailene.barr@uswitch.com
Twitter: @uswitchPR
Notes to editors
1. Source: Uswitch.com
2. According to Ofgem in March 2016, Supplier Co-operative Energy had 96,158 customers on its SVT. 96,158 * £58 = £5,577,164
3. Cheapest deal is IRESA’s Iresa Flex4 12 month Fixed Direct Debit at £833.73. Co-operative Energy new SVT is £1,179. £1,179 - £833.73 = £345
4. Between 1 June 2016 and 30 November 2016, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £618 or more.
About us
It’s all about “U”!
Thank you for indulging us over the last 20 years by using a small ‘u’ and a big ‘S’ when writing about our brand in your articles.
We are delighted to let you know that you are now off the hook - it’s big U’s all the way (and small s’s) as we undertake our biggest ever rebrand - so let your autocorrect go wild!
About Uswitch
Uswitch is the UK’s top comparison website for home services switching. Launched in September 2000, we help consumers save money on their gas, electricity, broadband, mobile, TV, and financial services products and get more of what matters to them. Last year we saved consumers over £373 million on their energy bills alone.
Uswitch is part of RVU, a new business that also owns Money.co.uk and Bankrate.
If you would no longer like to receive our press releases please email prteam@uswitch.com with 'unsubscribe'.