Co-operative Energy

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meggsy
meggsy Posts: 741 Forumite
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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  • Wywth
    Wywth Posts: 5,079 Forumite
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    2% - break out the champagne! _party_:j:beer::T
  • Former_MSE_Darryl
    Former_MSE_Darryl Posts: 210 Forumite
    edited 16 November 2012 at 1:50PM
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    "Minnow Co-op announces a cut for 50,000 customers - but it's still not cheapest ..."
    Read the full story:

    Co-op shaves 2% off electricity prices... as British Gas raises prices

    OfficialStamp.gif
  • bob_bank_spanker
    bob_bank_spanker Posts: 559 Forumite
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    Wywth wrote: »
    2% - break out the champagne! _party_:j:beer::T

    Would you rather they hadn't reduced it? ;)
  • pooch
    pooch Posts: 828 Forumite
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    bob_bank_spanker wrote: »
    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:
  • oldskoo1
    oldskoo1 Posts: 616 Forumite
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    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.
  • bob_bank_spanker
    bob_bank_spanker Posts: 559 Forumite
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    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.
  • neil9313
    neil9313 Posts: 696 Forumite
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    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.
  • neil9313
    neil9313 Posts: 696 Forumite
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    bob_bank_spanker wrote: »
    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.
  • pooch
    pooch Posts: 828 Forumite
    edited 16 November 2012 at 4:12PM
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    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)
  • Atidi
    Atidi Posts: 943 Forumite
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    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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