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Coop Energy Tariffs: compare gas & electricity prices

Coop Energy tariffs

Coop Energy offers three simple energy plans: one variable tariff, one fixed-rate tariff, and one powered by community energy. In this guide, we take a look at these Coop Energy tariffs in more detail, including pricing and how they compare to tariffs offered by other providers.

Current Coop Energy tariffs

Since August 2019, Coop Energy has been working in partnership with Octopus Energy, which means Octopus supplies all of the energy to Coop Energy customers. As a result, all current Coop Energy tariffs use 100% renewable electricity!

Like many energy suppliers, Coop has a large array of tariffs, including a fixed-rate tariff and a variable-rate tariff, as well as a unique tariff that is fueled by community energy. All of these come as dual fuel tariffs, or electricity only tariffs, and have standard meter, Economy 7 meter and smart meter options. Let’s take a look at each of these Cooperative Energy tariffs individually.

1. Variable tariff - Co-op flexible

Coop Energy’s variable tariff is called the Co-op flexible tariff. As a variable tariff, this is the supplier’s most expensive energy plan as the unit rate for gas and electricity can rise or fall over time in line with the wholesale price of energy.

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The provider will give you 30 days notice of any changes to unit rates. Moreover, as a variable tariff, there are no exit fees so you are free to switch to a Coop fixed-rate tariff, or even another supplier, at any time.

2. Standard fixed-rate tariff - Co-op 12m Fixed

This Cooperative Energy gas and electricity tariff is a normal fixed-rate tariff, meaning the unit rates and standing charge for both energy supplies are set for the duration of the tariff, in this case 12 months. This is a great option if you want security over your energy spending.

Unlike most fixed-rate tariffs, Coop’s fixed tariff does not impose exit fees, so you are still free to leave the deal before the end of the 12 months without facing a financial penalty.

3. Co-op Community Power

This is the greenest and most popular Coop Energy tariff. In this deal, all of your energy is sourced from community-run renewable energy projects and all gas is carbon offset too! This is the first energy tariff in the UK to be sourced from community-generated electricity.

What does this mean exactly? Well, it means that Coop Energy buys its energy from Community Energy Projects through Power Purchase Agreements (PPAs) for a fair price. This money then goes into local energy projects, such as installing solar panels on local rooftops and wind turbines on local farmland. Coop Community Energy works with over 80 energy projects across the UK, including Sandford Hydro, Westmill Wind and Solar Farm, and Oxford Bus Company.

Like the Co-op 12m fixed tariff, the Co-op Community Power tariff is a fixed-rate tariff for 12 months with no exit fees.

Manage your Coop energy tariff online with your online account. Head to our Coop login guide for tips on how to access your account and get started.

4. Business tariffs

Coop Energy does not offer business energy services to customers. While this makes sense given the coop nature of the company, it’s still disappointing that they are not able to provide scalable energy solutions for even small business enterprises.

Exit fees

Exit fees are an unfortunate fact of life in the UK energy industry and are what keep many customers feeling trapped with unsatisfactory tariffs. The great news is that, since the partnership with Octopus, Coop Energy tariffs do not have exit fees.

In the past, Coop has been enveloped in somewhat of a scandal with exit fees as Ofgem caught the supplier charging exit fees to customers who were nearing the end of their contract, with less than 49 days left on the terms of their tariffs! It’s actually illegal for suppliers to do this!

Old tariffs

Before its new partnership, there was a much bigger range of Cooperative Energy tariffs available. These included:

  • Green Pioneer (variable tariff)
  • Coop safe and secure (variable tariff)
  • Coop fair price tracker (variable tariff)
  • Coop fixed for longer (fixed-rate tariff)
  • Coop exclusive fixed (fixed-rate tariff)

This greater range of tariffs gave customers more options, but more choice isn’t always better. The current Coop Energy tariffs available include good features and are reasonably priced, and the reduction in options can make it easier to compare energy plans and choose which one is right for your household.

Do you have an old Coop Energy tariff? Contact the supplier today for information on what will happen when your contract ends.

Coop Energy prices

Now that we’ve gotten a taste of the different types of tariffs the company offers and their exit fees, let’s delve into the main course: Coop Energy’s prices!

Like all energy suppliers, Coop Energy prices will vary depending on where you live and how much energy you consume. In the tables below we have provided prices for all of the current Coop Energy tariffs for a medium-sized household in London with a standard meter. These can give you an idea of what a Cooperative energy tariff might cost.

Co-op Flexible
Variable tariff Gas Electricity
Unit rate (per kWh) 3.465p 14.8995p
Standing charge (per day) 16.8p 19.0155p
Annual cost £477.12 £531.29
Overall annual cost £1008.41

*prices included VAT at 5%, correct as of March 2020.

Co-op 12m Fixed
Fixed tariff Gas Electricity
Unit rate (per kWh) 2.8245p 14.469p
Standing charge (per day) 17.85p 20.895p
Annual cost £404.09 £524.81
Overall annual cost £928.90

*prices included VAT at 5%, correct as of March 2020.

Co-op Community Power
Community tariff Gas Electricity
Unit rate (per kWh) 3.2235p 14.952p
Standing charge (per day) 17.85p 20.895p
Annual cost £451.97 £539.78
Overall annual cost £991.75

*prices included VAT at 5%, correct as of March 2020.

As we can see from these tables, the Co-op 12m fixed is the cheapest Coop Energy tariff, while the Co-op flexible is the most expensive. This is pretty normal - variable tariffs are usually a supplier’s most costly option.

Compared to the market

How do Coop Energy’s prices compare to other suppliers? The easiest way to do this comparison is to use the supplier’s variable tariff.

Firstly, this tariff comes in under Ofgem’s current energy price cap of £1179 (March 2020). While all energy suppliers must be under the price cap, the majority are only under by a couple of pounds. At £1008.41, Coop Energy’s tariff comes in well under the cap, meaning it is not pushing the maximum limit energy suppliers can legally charge.

Additionally, it comes in a lot cheaper than the Big Six suppliers, whose variable tariffs average around £1164 a year.

Coop Energy is one of the cheapest independent, smaller suppliers on the market and offers a great deal for renewable energy.

Price changes

The price of Coop Energy tariffs have been known to increase over the years:

  • In April 2019, the price of its standard variable tariff rose by 10%, in line with the rise of the energy price cap.
  • In April 2017, its variable tariff rose again, this time by 5%
  • In October 2016, all of its prices rose by 3%

However, since the partnership with Octopus Energy, Coop Energy prices have fallen, making it a much more affordable supplier. For example, its variable tariff used to come in at £1340.53, a huge £332.12 more than it costs on average today.

Is a Coop Energy tariff right for you?

Coop energy gas and electricity tariffs are affordable and 100% renewable, making them a good choice for any conscientious consumer. However, if you want more choice or a longer fixed-rate tariff (e.g. two years), it might not be the right provider for you.

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