MSE News: Co-op enters energy market, but is it any good?

Jennifer_Jane

kar999 wrote: »

You haven't missed anything. I too was faced with a 40% increase from Scottish Power OS10 for my only fuel (electricity). The Coop was the second cheapest non-fixed tariff (by only £20) for me, saving £100 from (1 Aug prices) but the only one without any exit penalty. I will also get the highest cashback for a single fuel in the form of £50 off my first bill.

I didnt want to fix as I would only be locking in at higher prices rather than making any savings now. Losing out on today's fixes is the only risk I feel Im taking but it's by no means certain how much others prices will move.

Personally I'd rather have jam today, for however long it lasts (as I'm sure their prices will rise), so I've switched to the Coop in the full knowledge that I can exit for free at any time I chose if they become uncompetitive but with £50 cashback, £100 annulised savings and Coop points in my wallet.

Yep, I could have written this. Exactly my situation and thoughts.

PS - and don't forget 25 points a month for simply giving them a metre reading, 50 for dual fuel.

kar999

lewisa wrote: »

I'll never trust a comparison website again. Not for energy at least.

Co-op are cheap, dont trust a comparison website that says they arent.

Many comparison wesites dont even show the Coop unless you specify "Show All Tariffs" because you have to go direct to the Coop website to switch. The cynic in me beleives that is because the comparsion sites aren't being given an affliate link cash "kickback" incentive from the Coop.

Jennifer_Jane

All the comparison sites I've used have a request to 'show all tariffs even if you can't switch to them today' or similar. So I always do that, and Co-op was not the cheapest, but certainly better than Scottish Power (plus everything else). I think their customer service will be fine, I've been extremely happy with their bank account. Very happy at the moment....

What I do is to click the comparison sites via Quidco or TopCashBack, then when I've chosen the people I want to go with, I clear my cookies and go via a cashback site through to the energy supplier. Although with Co-op, there isn't currently any external cashback - just their own £50.

In addition, their website seems clear and easy to use.

chrissie52

Just switched to Co-op after many days of comparing unit prices for energy suppliers! You certainly can't trust comparison sites for this. Having done my own figures,the variations were enormous in the price the comparison sites quoted as against my checking of tariffs. Yes,the Co-op may put up their prices, inevitable in the current climate, but at least I know per unit ( one price, none of this nonsense about higher prices for the first so many units and then lower for the rest, made to disadvantage the low users out there of which I'm one!) what I'm using and factoring in the standing charge still makes them comparable in price to other companies. So with the divi on top of the savings I will make and the fact that I like the way they do business it's worth a go.

local_wanderer

Like most of the others here I have spent time looking at the costs from my previous supplier (Scot Power) and concluded that the time has come to go back to the 'old' way of doing things and opting for a standing charge and a single price for each fuel. When I did the comparisons, my last bill would have been substantially cheaper with the Co-Op than it would have been with the (hiked) Scot Power prices. Couple to that the option to leave whenever, and loyalty points, and a £50 discount off the first bill, the deal seems really good. I signed up a month ago and so far all has been great - no complaints at all, and customer service is actually very good. Good luck to them as far as I can say - great things start small - and anything that gives the 'big 6' a kick up the backside has to be good....

sabitabanerji

Thanks everyone on this forum - I have just signed up for Co-op's energy deal and was worried about whether it was the sensible thing to do. Price-wise it seems ok from what you guys are saying. Just wanted to add, don't forget that Co-Op is owned by us members, is an ethical trader and also that 20% of their energy is from renewable sources (compared to 9% for other suppliers) ... according to the man who sold me the energy!

meggsy

I signed up in July, switched from npower with no problems at all, actually looking forward to receiving first bill soon :cool:

There is £50 off first bill for sign-ups before 9th December, (an added bonus is that freedom from npower is good for ones health)
http://www.cooperativeenergy.coop/

Fairzo

Switching away from Co-op after two months, got a cheaper fix with Ovo. Switch is on the 1st Dec and received an email from Co-op this morning asking for meter readings as my switch TO them is nearly complete. By no means the first evidence of incompetence during my short stay with the company.

oldskoo1

I'm enjoying co-op's simplicity and pricing.

They did raise the prices recently but so did everyone else. They aren't the cheapest but the reason why i like them

- 1 simple to understand tariff
- Nearly the cheapest
- No tie in's or exit penalties
- Easy to manage account
- Support / email seems to work quite well with good response times

So far no problems, my usage so far as been acceptable and i'm not really feeling the effect of the price increases yet.