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Part of the Midcounties Co-operative group, the Co-op Energy brand was formed in 2010, selling gas and electricity as the only co-operative supplier in the UK. In 2019, the energy firm partnered with Octopus Energy, who provide the energy supply and customer service to those who hold Co-op Energy accounts.
There are three tariffs which Co-op Energy provide to dual fuel customers. Prices vary depending on your location, but here is an overview of the basic terms of each tariff:
Co-op Energy’s electricity is fully supplied by Octopus Energy, who specialise in providing renewable energy. This means that the electricity from all of Co-op Energy’s tariffs are 100% from renewable sources, such as wind, solar and hydroelectric generators.
If you choose the Co-op Community Power tariff, your gas will also be 100 percent carbon offset. This means that Co-op Energy are funding projects around the globe that take carbon dioxide out of the atmosphere (such as growing trees and protecting forests) meaning that although you will release some CO2 when you burn gas, your overall household will be carbon neutral.
0%
0%
0%
100%
0%
*Wind
Solar
Biomass
Wave and tidal
Hydroelectric
Geothermal
Since its foundation, Co-op Energy’ market share in the UK has grown following acquisitions of customer books from various former competitors:
In November 2016, after a competitive process, the UK’s energy regulator Ofgem announced that Co-op Energy would take over the customers of GB Energy, which had collapsed that year. They took on the accounts of 160,000 customers as a result, as well as having all of GB Energy’s staff transferred.
Co-op took on 130,000 extra customers after acquiring Flow Energy in 2018. It maintained its branding and tariffs for a while, but after the strategic deal with Octopus, all of Flow Energy’s customers were transferred to Octopus Energy.
A partnership was announced in August 2019 between Octopus Energy and The Co-operative. The deal meant that Octopus Energy, using their Kraken technology platform, would provide gas and electricity to Co-op Energy customers. Co-op Energy would still create their own tariffs, but the energy supply and customer service would be provided by Octopus.
Co-op Energy have been offering customers smart meters as part of the nationwide rollout scheme by the British government. If your area has been reached by the rollout, you can contact Co-op Energy, who will organise for an engineer to visit your home to have one installed.
Smart meters send meter readings straight to your energy supplier, meaning that your bills will be more accurate. You can also have an in-home display installed, which shows you exactly how much gas and electricity that you are using in your home in real time, showing how you can save on your energy bills and saving you money as a result.
Co-op Energy also provide smart prepayment meters, for those who have a pay-as-you-go meter installed in their home. This will allow you to check your balance and top up online, so you don’t have to wait until the shop opens when your lights cut out in the middle of the night.
In line with Octopus Energy’s policy, Co-op Energy do not charge any exit fees for leaving their contracts. This applies to both their fixed rate tariffs and their variable tariffs. This means that you are free to leave if you wish, although Co-op Energy are confident that you will not want to, so they do not need to put up any barriers against you switching.
