This week we announced the results of The Big Switch – Co-operative Energy won with the cheapest tariff on the day of the auction. In this guest post, Nigel Mason of Co-operative Energy explains what it means to them.
When we launched Co-operative Energy 12 months ago we promised to challenge the big six and, most importantly, champion a fair deal for customers. In our first year we have attracted 25,000 customers and proved to the rest of the industry and to the public that it is possible to operate an ethical energy business which has its customers’ best interests at heart.
United buying wins the title
Last week we were successful in winning The Big Switch auction. We beat bigger, more powerful players to offer the most competitive energy deal in all three auction categories – online direct debit, offline direct debit and the cash and cheque category – proving undoubtedly that we are highly competitive and that our values, the things that we believe are important, are important to customers too.
So we have proved that we were the cheapest option on average as part of the auction.
We were pleased to win The Big Switch – not just for offering the most competitive price but so that more of you can join us in our mutual business model. We’re the only energy supplier wholly owned by our customers which means if you obtain your energy from us you share in our profits and are instrumental in how we’re run.
So if you’re one of the new customers who joins us via the Big Switch you will not only be making big savings on your energy bills – over £200 for those on the worst value tariffs – but you will also receive a twice-year dividend.
Power to the People
United buying, where customers get together to increase their buying power, is at the heart of the co-operative model, which is why we were keen to be part of this first, large-scale collective buying scheme.
There’s a huge difference between united buying and mass serial switching – a practice encouraged by some in the industry, where a small number of customers hop from one loss leading tariff to another. That may be good for very active switchers but is terrible for everyone else who has to subsidise their savings. And it adds a new tier of cost to bills that are already hard for people to stomach.
Ultimately, the more people who join Co-operative Energy, the stronger our purchasing power and the more clout we have to compete against the Big Six and continue to offer a better energy deal for all.
Which? Conversation provides guest spots to external contributors. This is from Nigel Mason, Business Development Manager at Co-operative Energy – all opinions expressed here are their own, not necessarily those of Which?
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