Energy firm cuts electricity charge

pylonsAn energy firm has bucked the trend of rising prices by announcing it will reduce its electricity charges by 2% from December 21.

Co-operative Energy, which supplies 60,000 households following its launch 18 months ago, said the move reflected lower wholesale electricity costs.
It said the move would make its electricity prices for this winter lower than last year, claiming it would also be £88 cheaper than the average standard tariff for online direct debit charged by the "big six" energy firms.

Business development manager Nigel Mason said: "Unlike our competitors, we are not driven by a need to make profits for external stakeholders."

The business, which is part of the Midcounties Co-operative, the third largest co-operative in the UK, is distributing £105,000 to its customers this month as a half yearly share of profit.

© 2012 Press Association
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