Blaming government-imposed costs, independent energy supplier Co-operative Energy have announced that customers who are on the Co-op Energy Standard Pioneer Variable tariff will see price increases to their electricity bills from May 27th.
The price increase will mean that the Co-ops standard energy tariff will cost 18% more than the cheapest plan on the market and will mean an increase to customers energy bills by around £28 per year.
The announcement of a price increase comes as a major setback for Co-op Energy especially as rival independent energy suppliers Ovo and First Utility have recently announced reductions on their tariff prices and are competing to be the cheapest energy suppliers in the current market.
Ramsay Dunning from Co-operative Energy explained “We pledged to offer fair pricing, and even after this increase we will still be competitively priced against the big six’s standard tariffs. We are not increasing prices to reward financial investors. We are simply no longer able to absorb these government-imposed costs.”
A spokesman for DECC said If [Co-operative Energy] are going to say this is all down to government-imposed costs, they need to come out and explain how they have arrived at the figure they have.
Consumers who switched to the Co-op tariff as part of the Which? Big Switch campaign last year are urged to review their energy bill and switch as soon as possible in order to avoid automatic transfer on to the standard tariff when their discounted tariff ends.
There will be no increase to Co-operative Energys gas tariffs.If you’re a Co-op customer why not thinking about switching energy suppliers with uSwitch. It’s free and only takes 5 minutes.