You are here: Home - Household Bills - News -

Co-operative Energy hikes prices by 5%

Written by: Adam Lewis
Co-operative Energy has become the latest provider to hike its prices, with the announcement it will increase the cost of its standard variable tariff by an average of 5%.

The hike will affect around 96,000 customers on Co-op’s Green Pioneer deal and will kick in from 1 April.

It follows recent price increases by EDF and Npower.

The increase represents an average annual £58 jump in the price of energy and gas and follows a £32 hike in energy prices in October.

The firm blamed rising costs for the increase. A spokesperson said: “We try to protect customers from price fluctuations wherever possible. In recent months, however, we have absorbed a number of rising costs, including network charges and industry obligations.

“This is no longer sustainable and we have reluctantly taken the decision to pass on some of these costs to customers by increasing the Green Pioneer standard variable tariff by an average of 5%.”

Responding to today’s announcement, Alex Neill, managing director of home and legal services at Which?, said: “Co-op Energy’s price rise is another blow for customers, who will be outraged that their energy bills are set to go up when the regulator suggested that inflation busting rises are unnecessary. Customers sitting on their standard tariff should look to switch to better deals now.

“Millions of hard-pressed energy bill payers are continuing to suffer due to a lack of competition in this market. If energy companies fail to properly engage with their customers, then the government and the regulator must step in.”

See’s A guide to switching energy provider to see how you could save money on your bills.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Comments are closed.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Brits missing out on £billions by not switching mobile provider

A quarter of UK mobile phone users have never switched their mobile networks, with the perceived hassle of switching costing...