Co-operative Energy, launched in May 2011, has decided to cut its prices in February 2012. The ethical gas and electricity provider will drop by an average of 3%, a saving of around £35 per year for the average household in the Midlands.
The Co-operative say the move is a response to a recent fall in wholesale costs, which they claim will make them cheaper than all of the Big Six’s standard tariffs.
Nigel Mason, of Co-operative Energy said: “We made a promise to our customers to give them the very best deal and to be consistently competitive. We stick to our word. This autumn’s exceptionally mild weather has led to a drop in wholesale prices so we’repassing on those savings as soon as we possibly can. Who else but a co-operative would do that?”
However, the price reduction doesn’t apply to the Co-operative’s customers who signed up during the new entrant’s ‘probationary period’.