The Co-operative has entered the energy market with the official launch of Co-operative Energy.
Key features of their product offer include:
According to our research the tariff is a long way from being the cheapest in the market, but it is not designed to compete on price.
The launch price has been set so that it undercuts the Standard monthly direct debit prices of the Big 6 by a small margin. In addition, customers should receive some additional benefit in the form of a twice-yearly profit share.
The prices shown are for the average of Monthly Direct Debit for the relevant suppliers’ Standard tariff based on an average usage profile (16500 kWh gas and 3300 kWh electricity on a standard meter).
What we think:
The entry of an established and substantial brand into the energy market is a significant boost for competition. We really like the simplicity of what Co-operative Energy are doing with their tariff structures. For once, there is a real danger that customers may actually get to understand their energy bill.