Co-operative Energy has today marked its public launch with a challenge to the industry to stamp out sharp practice and give all customers a fair and honest deal.
The new energy provider has thrown down the gauntlet to the “big six” utility retailers describing their multi-tariff offerings as “baffling and bewildering” and has promised to champion a fairer deal for customers through its new, simple tariff and single unit price.
Co-operative Energy is also challenging the big profits the energy retailers are making by including a twice-yearly profit sharing deal for all Co-operative Energy customers, who own the business.
And they have promised not to hard-sell customers, there will be no exit penalties for switching customers and they won’t lock people into fixed-price contracts.
They will source electricity from low carbon generators, including renewable energy generators like wind and hydro. The aim is for the carbon content of their electricity to be less than half the national average by April 2012.
Co-operative Energy’s Nigel Mason said: “It’s time this industry had a radical shake up. Customers have been bamboozled by complicated tariffs and confused by changing prices and unfair contracts, and it has to stop.”
And he added: “We are determined to provide a fair and transparent service for Co-operative Energy customers and to let them share in the profits. We are campaigning for long-overdue reform in the energy industry.
“We will set an example that will show the big six how it can be done better.”
Co-operative Energy’s stance has been backed by Consumer Focus, the consumer watchdog which monitors the energy industry on behalf of the public.
The launch of Co-operative Energy comes just days before the end of an OFGEM Retail Market Review consultation into the industry which is calling for action to force energy retailers to work in the best interests of consumers.