Midcounties set to move into energy sector

Midcounties Co-operative is carrying out trials that could see it entering the household electricity and gas supply market next year.

Co-operative Energy, as it would be known, would offer energy initially to members of Midcounties and other societies, but will roll out on a national basis if the trials are successful. 

Chief Executive Ben Reid told the News: “We’ve studied the energy market for a long time and believe there is a desire among those who share our values and principles for a co-operatively run energy business.

“We are always looking at new ways of adding value for members and this would be an additional service we hope to be able to offer them. We are very excited by the possibilities. Electricity and gas would be offered at a fair price and, in addition, members would receive a share of the profits. Energy is a complicated, highly regulated area to enter and we have to take it step by step. The trials will involve relatively small numbers and it could be some time before we are in a position to consider whether to enter the national market in any major way.”

The business aims to provide customers with low carbon energy as part of a commitment to tackling climate change. Members are being invited to become the first to join Co-operative Energy by registering their interest at www.cooperativeenergy.coop.

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