CO Op Energy TAkeover

Mstarkey

Hi, I wondered, with CoOp being taken over by Octopus Energy whether we are obliged to stay in our current contract with them which is about 6 months to end. No paperwork as yet but they have emailed all customers

Robin9

Mstarkey wrote: »

............... but they have emailed all customers

Not had mine yet

Mstarkey

Exciting news for Co-op Energy


As a valued customer of Co-op Energy, we want you to be the first to know we have just announced a new partnership with Octopus Energy.

The things that made you choose us won’t change.

You will still be a Co-op Energy customer. You will still receive 100% renewable electricity and your prices will stay the same. If you’re a member, you’ll still earn membership points.

We will continue to fight against climate change, support renewable energy projects across the country, and challenge the dominance of the Big Six. We will continue providing you the fair tariffs, excellent customer service, and the community values you expect of us.

We’re making your life easier.

Through this partnership you’ll get the benefit of Octopus’ best-in-class online services and Which? recommended customer support. This has seen them become the most highly regarded supplier in the UK.

You don’t need to do anything.

We’ll be introducing these new features in a few months, and we’ll be back in touch closer to the time.

If you have any questions click here to check our website or contact us on 0800 781 1521.


Kind Regards,



David Bird
Chief Executive Officer
Co-op Energy

Mstarkey

Maybe I've assumed this TAKE OVer is a partnership - but that's odd - never heard of that anywhere before

UnclaimedEnergy

Co-op have become a white label of Octopus Energy. Octopus buy the power and carry out the operational work. However Co-op are responsible for the branding,marketing and, I'm assuming, setting the prices.

There's many other example of white labels, have a look at Robin Hood Energy who are a council owned supplier with about 10 of them.

Therefore you're still locked into the same fixed tariff you were before, it's just in the background Octopus are the licensed supplier and have also taken over the day-day management/billing.

tk47

Mstarkey wrote: »

Hi, I wondered, with CoOp being taken over by Octopus Energy whether we are obliged to stay in our current contract with them which is about 6 months to end. No paperwork as yet but they have emailed all customers

Will the price of my energy change?

If you're on a fixed tariff, your prices will remain the same – Octopus has said it will honour all fixed deals.


If you're on a variable tariff, and your deal is more expensive than Octopus Energy's standard variable tariff – known as Flexible Octopus – you'll actually see your prices fall to match this ...

and

I don't want to move across to Octopus Energy, can I switch?

You're free to switch away if you don't want to be with Octopus Energy, though the supplier has said there will be a short period while it's transferring Co-op, GB and Flow Energy's systems to its own when the switch might not go through....

https://www.moneysavingexpert.com/news/2019/08/octopus-energy-to-take-on-co-op-energy-s-300-000-customers-/

:money:

bristolleedsfan

UnclaimedEnergy wrote: »

Co-op have become a white label of Octopus Energy. Octopus buy the power and carry out the operational work. However Co-op are responsible for the branding,marketing and, I'm assuming, setting the prices.

I would have thought Octopus would set future prices


https://www.theguardian.com/business/2019/aug/28/octopus-energy-buys-out-rival-to-propel-it-into-the-big-time

UnclaimedEnergy

If Co-op have to go out and sell a tariff, I would expect them to have at least some input on the price/markup?

It might be that the majority of tariffs will be solely set by Octopus to make it more efficient, with Co-op having a say on the more community side of things?

It doesn't seem like a conventional white label set up as normally they manage their own operations.