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Co-operative Energy

edited 16 November 2012 at 1:50PM in Energy
25 replies 6K views
meggsymeggsy Forumite
741 posts
edited 16 November 2012 at 1:50PM in Energy
Co-op Energy reduces price of electricity -

http://www.cooperativeenergy.coop/2012/11/16/co-operative-energy-goes-against-the-trend-and-reduces-its-prices-this-winter/

MSE insert: We've now published this story about Co-op's cut.
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Replies

  • WywthWywth Forumite
    5.1K posts
    2% - break out the champagne! _party_:j:beer::T
  • edited 16 November 2012 at 1:50PM
    Former_MSE_DarrylFormer_MSE_Darryl
    210 posts
    edited 16 November 2012 at 1:50PM
    "Minnow Co-op announces a cut for 50,000 customers - but it's still not cheapest ..."
  • Wywth wrote: »
    2% - break out the champagne! _party_:j:beer::T

    Would you rather they hadn't reduced it? ;)
  • poochpooch Forumite
    828 posts
    Would you rather they hadn't reduced it? ;)

    I'm not fussed really.

    I just did a comparison based on their 'reduced' prices for an average user in the Eastern Region and got the following results:
    Your expected annual usage is 3,300 kWhs which will cost £449.00 per year (including VAT) from Co-operative Energy.

    That compares with £401.00 for your current supplier. We are only £48.00 more per year than your current supplier.

    :eek:
  • oldskoo1oldskoo1 Forumite
    607 posts
    Part of the Furniture 500 Posts Combo Breaker
    ✭✭
    May only be 2% but still a reduction.

    This is why i joined the co-op just a few months after they launched.

    To get the very best deals you usually need to hop tariffs or even providers, either offset the cancellation charges with credit from another provider or look at the end of contract. It's even more important to check the terms these days and quite frankly with all the different tiers and tariffs i was quite glad to dump it all and go with the co-op.

    Their mission statement isn't to be the cheapest and they aren't, although they are very close. They are competitively priced and have 1 clear transparent rate by region, no cancellation charge and so far i haven't had any reason to cancel with them.

    Very happy with them.
  • pooch wrote: »
    I'm not fussed really.

    I just did a comparison based on their 'reduced' prices for an average user in the Eastern Region and got the following results:



    :eek:

    Quite. I suspect this will be for the benefit of those already on a coop tariff (Which Big Switch?), and won't win them that many new customers. The savvy are already on long term fixed tariffs.
  • pooch wrote: »
    I'm not fussed really.

    I just did a comparison based on their 'reduced' prices for an average user in the Eastern Region and got the following results:



    :eek:



    Use their members card and there won't be much difference. Im actually a fan of their fuel. They don't have loads of tarriffs, very easy to understand.
  • Quite. I suspect this will be for the benefit of those already on a coop tariff (Which Big Switch?), and won't win them that many new customers. The savvy are already on long term fixed tariffs.


    Nope their varible rate tarriff has been reduced for everyone.
  • edited 16 November 2012 at 4:12PM
    poochpooch Forumite
    828 posts
    edited 16 November 2012 at 4:12PM
    neil9313 wrote: »
    Use their members card and there won't be much difference.

    In my previous example showing them to be £48 per year more expensive (almost 12% more expensive, even after the 2% reduction in prices), the site suggests the value of any 'points' would only be worth up to £11 ;)
    Based on the following assumptions: one point per pound spent with Co-operative Energy, plus maximum 600 points per year for providing online meter readings every calendar month for both electricity and gas. One point assumed to be worth 1.5 pence. Result rounded to nearest whole pound. The value of points varies based on profits and is decided by members each year. Our price comparison is based on suppliers’ prevailing prices and on your estimated annual consumption. Our actual charges are based on the amount of energy you use and may differ from this price comparison if the amount you actually consume is materially different from the estimates you provided in this price comparison.
    neil9313 wrote: »
    They don't have loads of tarriffs, very easy to understand.
    Yes, expensive ;)
    (just like E.on)
  • AtidiAtidi Forumite
    943 posts
    MSE_Darryl wrote: »
    Co-op raised prices by 2% for both gas and electricity customers in the summer, but a spokeswoman said an anticipated rise in wholesale electricity costs did not happen so it is able to reverse the rise.
    Will existing customers be compensated for being overcharged during this period? :cool:
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