Co-op Energy

Co-op Energy is a British energy supply company based in Warwick that began trading in 2010. It is an alternative to the Big Six energy suppliers and, given that its parent is Midcounties Co-operative, it is the only co-operative supplier in the market.[1] Since August 2019, energy supply, billing and customer service have been operated by Octopus Energy.

Co-operative Energy Limited
TypePrivate subsidiary company of an Industrial and Provident Society
IndustryPublic Utility
Founded2010
ProductsGas and electricity supply
ParentThe Midcounties Co-operative
Websitewww.cooperativeenergy.coop

History

Co-op Energy launched in 2010 as an alternative to the Big Six energy suppliers. Any member of Midcounties Co-operative can share in the profits from Co-op Energy.

The company currently has three sites with one office in Warwick and two offices in Walsall.

In 2012, Co-op Energy was awarded the Which? Positive Change Award, which recognises a company that has made significant changes to give its customers a better deal.[2]

In 2014, User Chooser was launched by Co-op Energy to allow customers to choose where their electricity is sourced from.[3] This service won the EU Sustainable Energy Europe Award in 2015.[4]

A problematic upgrade to its online customer service and billing system in 2015 resulted in numerous problems and a large backlog in dealing with issues.[5] By the end of 2015 it was the most complained about utility company, measured in complaints per thousand customers.[6] By the end of 2016 these issues had been resolved and the company was paying out £1.8 million in compensation to customers.[7]

On 2 October 2020, Ofgem published its notice of proposal to issue a Final Order (FO) on Co-op Energy in accordance with Section 25(1) of the Electricity Act 1989 (EA89).[8]

Acquisitions

In November 2016, Co-op Energy announced that it would take on all 160,000 customers of collapsed firm GB Energy on their existing price tariff. Ofgem said it had chosen Co-op Energy after "a competitive process to get the best deal possible". All GB Energy's staff were to be transferred on the same terms to Co-op Energy.[9]

In May 2018, Co-op Energy announced that it had acquired Flow Energy, which had approximately 130,000 customers at the time. Co-op Energy said that Flow Energy would remain a separate brand within Co-op Energy and keep its own tariffs.[10]

Partnership with Octopus Energy

In August 2019, Midcounties Co-operative agreed a partnership with Octopus Energy. Customers of GB Energy and Flow Energy became Octopus customers. The Co-op Energy brand continues, with customer accounts operated by Octopus, while Midcounties retains responsibility for acquiring new customers.[11][12]

See also

References
  1. "www.electricityinfo.org". Archived from the original on 2014-04-23.
  2. "Winners of the Which? Awards 2012 are revealed - June - 2012 - Which? News". www.which.co.uk. Retrieved 2016-07-19.
  3. "Co-operative Energy looks to future with User Chooser". 2014-07-09. Retrieved 2016-07-19.
  4. "Co-operative Energy wins European award for empowering customers - Co-operative News". 2015-06-18. Retrieved 2016-07-19.
  5. "Co-op Energy faces customer backlash following bungled system upgrade". Moneysavingexpert.com. 2015-03-25. Retrieved 2015-06-25.
  6. "Co-op Energy: regulator sets sights on the new worst culprit for billing bungles". The Telegraph. Retrieved 27 January 2016.
  7. "Co-op Energy to pay £1.8 million compensation to customers over service". The Evening Express. Archived from the original on 31 October 2016. Retrieved 30 October 2016.
  8. "Coop Ofgem Order 2020".
  9. "Co-op Energy to take on GB Energy customers". BBC News. 29 November 2016.
  10. "Co-op Energy acquires Flow". Cooperative Energy. 2 May 2018.
  11. Stoker, Liam (29 August 2019). "Octopus Energy and Co-op Energy confirm major 'strategic energy partnership'". Current News. Retrieved 2019-09-06.
  12. "About our partnership with Co-op Energy, including Flow Energy and GB Energy". Octopus Energy. Retrieved 2019-09-06.
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