Co-op’s new fixed energy tariff ‘cheapest’ on the market

Co-operative Energy has announced two new fixed price tariffs, with one claimed to be the cheapest on the market. It launched a one-year fixed tariff until March 2015 and another […]

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By Priyanka Shrestha

Co-operative Energy has announced two new fixed price tariffs, with one claimed to be the cheapest on the market.

It launched a one-year fixed tariff until March 2015 and another two-year fixed tariff until the end of the same month in 2016, with no exit penalties for both.

The first tariff will be the cheapest fixed price plan on the market, costing the average household £1,168 a year for gas and electricity, according to price comparison site uSwitch.

Co-operative customers can also receive a share of profits twice a year if they sign up to a membership.

Group General Manager Ramsay Dunning said: “Not only will customers be assured their prices are fixed, if they sign up to any of our tariffs and become a member they will also benefit from a share of profits twice a year and have a say in how their energy company is run so they will know for sure they’re getting the very best deal.”

Last week the energy firm trimmed down its 4.5% price increase announced earlier in the month to 2.5%. Co-operative Energy has 15,000 customers.