As a leader in improving the practices of the energy industry, Co-operative Energy welcomes Ofgem’s proposals to simplify tariffs. They are good news for consumers. But we think more needs to be done.
When we launched we pledged always to offer our customers a fair price. Most importantly, we promised not to offer new customers a better tariff than existing customers. And, beyond this, we reward our customers with a share of our profits twice a year.
Ofgem needs to investigate the practice of suppliers who reward switchers with their cheapest tariff at the expense of loyal customers, some of whom can pay up to £300 more than the time-limited deals offered to new customers.
Ofgem needs to tackle this predatory and unfair pricing head on to make the market more open to new suppliers and to benefit the hard pressed consumer.