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Statement from Co-operative Energy

Posted on 3 June 2013

The Co-operative Energy, which is part of The Midcounties Co-operative, the largest independent co-operative businesses in the UK, has completed all of its tax obligations for the year 2012/2013. Total profits before tax and distributions for The Midcounties Co-operative for 2012/2013 were £11.4m. The application of profits for the period was taxation (£2.9m), distribution to members (£4.5m), grants and other distributions (£2.1) and re-investment in the business (£1.8). Co-operative Energy has gained over 135,000 customers since it launched on the UK energy market in 2011 and is Britain’s fastest growing energy supplier, thanks to its simple tariff and competitive pricing policy. 2012/2013 saw a sales increase of 544 per cent and the Group now employs 111 colleagues to meet this growing demand. It also received the Positive Change Award at the Which? Awards 2012 Midcounties Co-operative, parent co-operative of Co-operative Energy was ranked as 13 in the Sunday Times 25 Best Big Companies to Work For 2013. This represents the third successive year Midcounties has featured in the coveted list and its highest positioning in the table yet. This is further recognition for The Midcounties Co-operative, after it was named as Co-operative of the Year at the Co-operative Awards 2012.

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