Co-operative to become energy provider

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The Co-operative is launching its own energy company to directly compete with the "big six" gas and electricity suppliers, due to the Ofgem market review, which advised providers to simplify their tariffs.

Nigel Mason, Co-operative Energy spokesman, says: "It's time the industry had a radical shake up. Customers have been bamboozled by complicated tariffs and confused by changing prices and unfair contracts, and it has to stop."

The move provides even more competition in an industry where energy providers are lowering prices to attract customers.  However British Gas owner Centrica warned customers that they may face higher bills to reflect increasing wholesale gas prices.

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