Co-operative Energy has today become the first and only energy provider to offer customers tailored payment arrangements, helping pensioners and the 3.5 million* British workers who receive their income on a fortnightly or four weekly basis.
The new energy supplier is exclusively offering its 15,000 existing customers and new customers two unique payment options. Customers can now choose to pay their Co-operative Energy bills either every four weeks, making 13 monthly payments across the year, or fortnightly, making 26 payments across the year, as opposed to the standard 12 monthly payments offered by the ‘big six’.
The ethical energy provider which offers customers one simple-to-understand tariff has introduced the flexible payment options to help customers, especially pensioners who receive their pension on a fortnightly basis, and the 3.5 million* British workers who are paid every four or two weeks, to make their fuel repayments more manageable.
Co-operative Energy’s Nigel Mason said: “Co-operative Energy is committed to treating customers fairly and we’re continuously looking at ways to help our customers manage and reduce their energy bills, which is why we’ve launched the flexible payment scheme.
“We’re aware that ‘one size doesn’t fit all’ and not all our customers are paid on a monthly basis. In many households there is a challenge to manage the bills because the breadwinner is paid every 4 weeks but bills are paid every calendar month. So at some times of the year monthly direct debits are paid out just before the pay goes in. This is particularly common in the retail industry.
“We have listened to our members and we’re now offering Direct Debits on a four or two week cycle to fit in with a customer’s pay dates. Managing the household budget will now be that little bit easier. Who else but a co-operative would do this?”
Maria Wardrobe, Director of External Affairs at National Energy Action, the national fuel poverty charity said: “Over 6.6 million UK households are estimated to be living in fuel poverty, unable to heat their homes affordably. NEA welcomes innovation in the energy market and this initiative will potentially make budgeting easier and help prevent customers from falling into debt with their energy supplier.”
The news comes following Co-operative Energy’s recent announcement that customers will enjoy their first profit share, a proposed interim dividend of 1.3 pence per pound spent.
*Annual Survey of Hours and Earnings, Office of National Statistics