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Co-operative Energy is hiking the prices to customers on its Pioneer tariff, it announced today.
The independent supplier is raising the prices it offers to new customers by an average of 8.5 per cent for gas and 9 per cent for electricity.
This will add more than £100 to the annual bills for the average dual fuel customer.
The company said the price hike was needed to meet “the escalating costs” of transporting energy and because of the five per cent increase their energy costs.
Co-op Energy said: “We are not increasing prices to reward financial investors, but to ensure we continue to run a sustainable business for our members.”
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