Word on the street is that the Co-op are about to dip their toe into the domestic energy market and become a major competitor to the likes of British Gas and Scottish Power. In a sector which regularly gets away with astronomical price hikes and consistently high charges, this can surely only be good news.
Most of us will know the Co-op as that expensive yet annoyingly convenient food shop round the corner. You know the one – the place that builds its entire business model on being the easiest place for everyone to pop in to when they run out of bread and milk, whilst hoping that they will all pick up a few punnets of exorbitantly priced organic strawberries while they are at it.
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The Co-op is far from a one trick pony though. They operate the biggest funeral service in Britain, for example, and their insurance service has been the main sponsor of the Scottish Football League Cup since 1999. They are the third largest owner of high-street pharmacies in the country, as well as running services in the banking, travel, legal and electrical industries.
Cheaper and Fairer Energy Bills On The Way
And now, we hear, they are moving into power and, to be honest, we couldn't be happier about it! The big domestic energy companies have had it far too easy for far too long. It is too easy to continue charging whatever prices you like when all the energy in the country is owned by a couple of large cliques at the top.
But the more competition there is, the more likely the companies are to start competing with each other to get our business. And that means lower prices and better deals for everybody.
The Shock of Unexpected Bills
We've all heard the horror stories about elderly people who are forced to sit in their houses in winter literally dying of the cold because they can't afford to turn their central heating on. We've all had that moment where we've opened our power bills and almost fainted at the enormous bill staring back at us. And all the while the rich power companies get wealthier and wealthier.
Hopefully the Co-op can rattle a few cages and shake-up the industry. If nothing else, at least we'll all have a little bit more money in our pockets every month.
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