Co-op Energy Announces Price Hike

30/09/11

By Emma McFarnon

The 14,000 customers who turned to Co-operative Energy as an alternative to mainstream providers will be frustrated to learn that they too will suffer gas and electricity price hikes.

The supplier, which was launched in May and claims to be an ethical provider, said it had been hit by rising wholesale energy costs, distribution charges and levies to fund renewable energy investment.

Co-operative Energy's business development manager Nigel Mason said: "The last thing we want to do is put up our prices and we have held off for as long as we possibly could, but unfortunately we are affected by the same pressures as the rest of the energy industry."

From November 3, gas and electricity prices will rise 18% and 11% respectively.

Co-operative Energy, owned by the Midcounties Co-operative society, is the latest provider to announce price increases. All six big energy companies have recently announced a second round of price hikes - the first hit consumers over the winter.