Co-operative Energy bump up energy prices nine per cent

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Electrical discharge

Co-operative Energy is the latest energy firm to put up its energy bills for new customers: Although the firm has confirmed it will keep current customers bills at the same level until at least April 15.

The nine per cent rise in the cost of energy from the firm was blamed for the price hike which will see the average dual fuel energy consumers bill rise up to £1,258 a year.

Surprisingly, the energy provider went against the grain of many of its rivals, including the 'Big Six' providers, when it actually cut energy prices at the end of last year.

However, that move to cut electricity bills by two per cent in December 2012 only really offset a  two per cent rise in gas and electricity bills that the firm made in September 2012.

Co-Operative Energy was actually third cheapest on the market at the end of January 2013, however this latest price hike has seen them drop down in the rankings.

The firm issued a statement on the price hike which read: "We are owned by our customers, so we are not increasing prices to reward financial investors, but we have a duty to our members to run a sustainable business and if we didn't match the transport cost increases by putting up our prices by a similar amount, we would be selling energy at a loss, which is not sustainable."

The energy firm does continue to offer support for customers and is able to provide safety checks for eligible customers worried that a gas appliance, such as a boiler or cooker, is faulty in their home.

The firm also offers advice on its website for visitors looking to save energy in the home.

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