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Co-operative Energy to cut its electricity bills

John Fitzsimons
by Lovemoney Staff John Fitzsimons on 16 November 2012  |  Comments 12 comments

Bucking the trend, Co-operative Energy is to reduce its electricity bills by 2% from December.

Co-operative Energy to cut its electricity bills

Co-operative Energy is to cut its electricity prices by 2% from next month.

The change will take place on 21st December, and bucks the trend of energy prices announced by the ‘big six’ energy providers.

First was Scottish and Southern Energy, which announced it would hike prices by 9% in October.

Then British Gas and npower announced price rises, with the British Gas change taking effect today.

Scottish Power soon followed with a 7% rise of its own, while EDF will enforce the biggest rise of 10.8% from 7th December. The only big gun that hasn’t yet raised prices is E.ON, which pledged to freeze prices for 2012. However, talk is rife that it will soon announce its own price rise, with rumours of a whopping 11% increase to come into effect in January.

Co-operative Energy has only been in the market for 18 months now, with 60,000 households on its books. It claims that the price cut will mean its prices are £88 cheaper than the average big six standard tariff for online direct debits.

That’s a bit of a false gloat though, as the standard tariffs are always the most expensive offering from any energy firm. So before you rush off to sign up to the Co-op, make sure you compare energy tariffs in your area and for your specific energy use to see which deal will work out cheapest.

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Comments (12)

  • marram
    Love rating 49
    marram said

    @ Meanmachine2 - I had exactly the same problem and I sent them an email on their site (I also kept a copy) and told them I categorically would not allow them to take so much money. I actually wrote: 'Is your mathematics really so bad or are you just greedy?'

    I made them an offer which meant they would get about £20 more over the year than they estimated, and they agreed. I got a confirmation in writing a few days later, including a promise to review it if it appeared to be too much. Mind you, I did point out that my contract expired in January and I would be reviewing the situation then. That is possibly what swung it.

    I'd say have another go and specify how much you are prepared to pay (be realistic) and see what happens. Good luck! :)

    Report on 22 November 2012  |  Love thisLove  0 loves
  • marram
    Love rating 49
    marram said

    @celticlass - I too am on a fixed income as a pensioner, but I don't get any interest on my money in my very basic bank account, nor do I have a savings account, so I am happy to pay by monthly direct debit. I don't think I could be disciplined enough to set the money aside. Good for you. I hate them having money in advance but I feel safer this way.

    Report on 22 November 2012  |  Love thisLove  0 loves

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