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Co-Operative Energy announces 5.2% price rise

  • Co-operative Energy is raising gas and electricity prices by 5.2% for approximately 128,000 customers on its standard variable tariff from 20 August

  • Bills will also increase by the same amount for GB Energy customers, who have been supplied by Co-operative Energy since GB Energy ceased trading in late 2016

  • Customers on a standard tariff will see their bills rise by £61 from £1,158 to £1,218 – the equivalent of £7.8 million nationwide

  • Co-operative Energy and GB Energy standard tariffs will now be £373 higher than cheapest deal on the market

  • Households are urged to show energy companies they won’t be taken for granted and save up to £482 by switching supplier****.

Co-operative Energy is to raise the price of its standard variable tariffs by £61 from 20 August, adding a collective £7.8 million to the bills of 128,000 households.

The price rise will also apply to GB Energy customers on a standard variable tariff, who have been supplied by Co-operative Energy since GB Energy ceased trading in November 2016.

Commenting on the news, Rik Smith, Uswitch.com energy expert, says: “The news from Co-operative Energy today is the 25th overall increase announced this year. We have now seen at least one price rise from Britain’s ten biggest energy suppliers in 2018 as well as hikes from numerous smaller providers.

“Despite the warm weather it has been a tough year for energy customers who have seen their bills skyrocket by an average of £58 (5.6%).  

“But in the face of this relentless barrage of price rises taking standard tariffs to nearly £400 above the cheapest deals on the market, bill payers have been fighting back in record breaking numbers. According to the latest data, 2.7 million customers have switched so far this year, with record numbers of people going to small suppliers. Now is the time to switch, save up to £482 and protect yourself against future rises.”

Find out how you could save almost £1,000 a year with Uswitch here.

FOR MORE INFORMATION

Ailene Barr

Phone: 020 3872 5610

Email: ailene.barr@uswitch.com

Twitter: @uswitchPR

Notes to editors

  1. Source: Uswitch.com

  2. Ofgem Supplier SVT League Table states that Co-Operative Energy has 128,081 non PPM SVT customers. 128,081 x £61 = £7,812,941

  3. Cheapest tariff data, correct as of 17 July 2018. £1,218 - £845 = £373

  4. Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £482 or more.

2.7 million customers switched so far in 2018: Energy UK

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