Co-op Energy plans to cut power bills by 2 per cent
Following stints with Reuters and the Press Association, Martin Hickman joined The Independent as a news editor in 2001. He became the Consumer Affairs Correspondent in September 2005 and has run the paper's trenchant campaigns on packaging, bank charges and factory-farmed chicken. He writes on subjects as diverse as food, finance, energy and fashion. With Tom Watson, he is author of a new book on the phone hacking scandal, Dial M for Murdoch - News Corporation and the Corruption of Britain.
Friday 16 November 2012
Co-op Energy, which has 60,000 customers nationwide, will cut its electricity price by 2 per cent next month, making its average annual dual-fuel bill £178 cheaper than those of its rivals.
Most of the "Big Six" suppliers are about to increase average bills by about £100 a year. British Gas's 15 million customers will pay 6 per cent more from today. Npower will raise its prices by 9 per cent on 26 November, followed in early December by EDF (10.8 per cent) and ScottishPower (7 per cent).
Scottish & Southern, which reported a 38 per cent rise in half-yearly-profits this week, introduced a 9 per cent rise last month.
Co-op Energy, set up 18 months ago, is publicly committed to avoiding price rises this winter. From 21 December its average annual dual-fuel bill will be £1,157; the Big Six will average £1,135.
Nigel Mason, Co-op Energy's business development manager, said: "Unlike our competitors, we are not driven by a need to make profits for external stakeholders and we pledge to offer a fair and transparent price for all our customers."
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