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Comment from Co-operative Energy on the announcement by Scottish and Southern Energy that it is to auction all of its electricity on the open market

Posted on 12 October 2011

Nigel Mason – Business Development Manager for Co-operative Energy: “We welcome the move by Scottish and Southern Energy to break ranks with its fellow Big Six power suppliers by letting domestic suppliers bid for its entire energy supply. This is a step in the right direction for the energy industry as it provides more volume in wholesale markets. However, more volume is only part of the solution for small suppliers such as Co-operative Energy and others looking to gain entry into the market. In order for this to be an effective move, contracts need to be of the right duration, not just one day ahead and of the right shape, to match the profile of domestic consumption. To avoid indirect discrimination against the small suppliers it is essential that the rules of the auction process are properly addressed. From a consumer perspective it makes wholesale costs more transparent and will force suppliers to justify retail price increases more rigorously. It will also encourage competition, allowing new players to enter the market if they can be confident they can procure energy in the right volume and shape. More competition will be good for consumers in the long run and we support this. As a relatively new energy supplier and a competitor to the Big Six we are engaging with Ofgem to formulate the detail of how wholesale market reform will work. We see this as a good move for consumers and challenge the other Big Six suppliers to follow suit.”

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