Although only launched earlier this year â€“ back in May â€“ Co-operative Energy has followed in the footsteps of the so-called â€œbig sixâ€, becoming the latest of the energy suppliers to increase their prices, according to an article published by the UK Press Association.
It's 14,000 customers will now see gas prices hiked up by 18 per cent, while electricity tariffs will increase by 11 per cent from November 3.
Co-operative Energy has attributed the rise as knock-on effect caused by the rise in energy costs, distribution charges and the increasing levies needed to fund investment for renewable energy.
Business development manager for the energy supplier, Nigel Mason, defended the rise.
He stated: â€œThe last thing we want to do is put up our price and we have held off as long as we possibly could, but unfortunately we are affected by the same pressures as the rest of the energy industry.â€
Mr. Mason continued, adding: 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.â€
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