Co-operative Energy hikes prices only four months after launching
New energy provider Co-operative Energy has announced it will be putting up prices after only four months of trading.
The business, which launched in May, aims to offer consumers an ‘honest, transparent and competitive’ view on pricing.
It blamed rising whole sale prices and government levies to increase renewable generation for the price hikes.
The business boasts more than 14,000 customers nationally already and they will face increases of 18% for gas and 11% for electricity from November 3.
Co-operative Energy’s business development manager, Nigel Mason, said: “Rising wholesale prices during the winter months, rising charges for energy distribution and rising government levies to fund national policies like renewable energy investment, are all factors driving up prices.
“We’re working hard to do everything we can to support our customers through this winter and by holding the cost of the standing charge element of the bill we’re helping lower usage, lower income households.”
© Faversham House Ltd 2023 edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.