Co-op energy announce price increase

Wywth

Just a heads up, effective today for all new customers, and effective 15 April 2013 for all existing customers, the Co-op have announced price increases

http://www.cooperativeenergy.coop/2013/02/12/statement-from-co-operative-energy-on-price-increase-for-new-customers/

(Thanks to charles_b for the pointer)

Don't be too hasty doing a comparison, as the comparison sites may not have the latest prices loaded yet.

Of course, all those who have already signed up with the MSE cheap energy club should be advised in due course if another supplier is now cheaper for you

MillicentBystander

Their prices are up and down like a (censored )!

Wywth

Update prices are already available on Energyhelpline.com

(perhaps on other comparison sites too)

It appears to be about £10 annual standing charge increase (for each fuel) equivalent to almost 16% plus 2.5% - 9.5% unit price increase for electricity (dependent on supply region) and about 8.5% unit price increase for gas :eek:

dude89

"From today (Tuesday, 12 February) we’re increasing prices for new customers who join Co-operative Energy. This is due to the rising cost of transporting energy, which is beyond our control.

We would like to assure existing customers that they will not be affected by the price increase and advise anyone considering joining Co-operative Energy that we will be competitively priced against the big suppliers’ standard tariffs. We launched with a commitment to provide a fair and competitive deal, which we demonstrated by being the only energy supplier to cut our electricity prices this winter, when households typically use more energy. And we promised existing customers to freeze our prices until at least 15 April 2013.

We are owned by our customers, so we are not increasing prices to reward financial investors, but we have a duty to our members to run a sustainable business and if we didn’t match the transport cost increases by putting up our prices by a similar amount, we would be selling energy at a loss, which is not sustainable." The co op statement.

Does this now mean that the energy companies are actually telling the truth when it comes to price rises?

Was the electricity price reduction just a marketing ploy to stand out from the big 6 who were increasing prices. It's not like transportation costs of just jumped up in the last few weeks compared to 3 months ago.

Though the electric increase isn't as bad as most the gas is in line with everyone else. At least they have held out till winter is over.

oldskoo1

So it is just another £20 per year so 83p per month per fuel standing charge?

Is it worth doing a price comparison or have i got this wrong?

Wywth

oldskoo1 wrote: »

So it is just another £20 per year so 83p per month per fuel standing charge?

Is it worth doing a price comparison or have i got this wrong?

Correct, but only if you don't use any energy. :cool:

Not sure why you would be on such a tariff if you don't use any energy.

Or try reading post #3 again

oldskoo1

I read it as the £20 increase was the equivalent of x% increase in standing charge OR x% increase electricity.

I realise what you meant now, its an increase to standing charge, gas and electricity individually.

Where i live in the west midlands, it's a 7% increase for Gas and an 8% increase in electricity unit costs.

Plus the extra £10 per year for each.

So for me, a typical winter bill will be an extra £16 per month with these increases.

Wywth

oldskoo1 wrote: »

Where i live in the west midlands, it's a 7% increase for Gas and an 8% increase in electricity unit costs.

I actually make it 7.85% for gas unit rates and 9.5% for electricity unit rates
(based on single rate tariff)

I originally worked out the cost differences for the Eastern region (the first in their list) but never imagined the price increases would vary so much by region.

I'll update my earlier post

MillicentBystander

I thought wholesale prices were actually coming down? I must have been mistaken. Can someone confirm if the price of gas is linked to oil prices anymore or did that only apply when oil was increasing in price? It's all very confusing, isn't it?

Maysie

Not a happy bunny just switched to them very recently. I had the cooling off perioid end 31jan and its due to switch to them 27th Feb. Not quite sure what this means in real terms.

MillicentBystander

Weirdly it could be argued that new customers are 'subsidising' their existing customer's deals. If that was the case, is that what a Co-Op should be doing?