Ethical energy supplier Cooperative Energy has doubled in size following the success of the UK's first large-scale collective buying scheme, the Big Switch, and now supplies one in every five hundred households.
The gas and electricity supplier has signed up more than 26,000 new customers in the past month, doubling its size to 52,000 customers.
The new customers have joined Co-operative Energy after its success in the Which? Big Switch auction, where it competed against other energy suppliers to win all three tariff categories – variable rate, fixed rate online and fixed rate offline.
The news comes as Co-operative Energy celebrated its first anniversary at its recent AGM.
Co-operative Energy's Nigel Mason said of the news: "This was the first large scale collective buying scheme in the UK. 26,000 customers switching to Co-operative Energy is a big boost for us. It gives us more buying power when negotiating on wholesale energy markets and so keeps costs down for consumers. The more people who join us, the greater clout we have to get consumers a better deal.”
He added: “Collective buying is at the heart of the co-operative business model. It is a very powerful way for consumers to harness their combined buying power and get a better deal. We want the principle of collective buying to become part of everyday life for consumers.”