The Co-op Group has announced the relaunch of energy buying group Co-op Power ”with a renewed mission: to help like-minded businesses save money and source green, low-cost energy in an ethical and sustainable way”.
The Group says it already buys energy for its own operations and wants to use its buying power to support other businesses in building greener energy strategies. It cites its experience managing energy for key sites within its own infrastructure such as the Biggleswade distribution depot, part of a “commitment to efficiency and sustainability at scale”.
“As the biggest Co-op in the UK, we buy power for our own business, and we decided to use our buying power to help other like-minded businesses save money and source energy in an ethical and sustainable way,” said chief procurement officer Imran Rasul.
“We’re building on Co-op’s experience as a major energy user to help businesses take control of their energy strategies. Our team brings deep expertise in sourcing, buying, and managing energy, and we’re committed to using that knowledge to deliver real value—helping businesses cut costs while sourcing energy in a way that’s sustainable and ethical.”
The Group says the move follows efforts 2022 to focus on internal energy procurement, with the society redesigning and strengthening its hedging strategy to prepare for a rapidly evolving energy market. Working with its Sustainability and Property teams, the Group modelled a green strategy, investing in corporate power purchase agreements and embedded generation.
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“With this foundation in place, Co-op Power is now ready to offer its expertise to others,” it adds.
The business was soft-launched to partner suppliers at the Group’s Goods Not for Resale (GNFR) Supplier Conference in June and showcased at the Institute of Grocery Distribution (IGD) Conference in September.
Its offer focuses on four key services:
Green strategy consultancy and sustainable energy planning; energy procurement; porfolio and bill management; and account management..
“We’ve redesigned our approach to make Co-op Power stronger and more resilient than ever,”said Rasul. “This isn’t just about buying energy; it’s about co-operating to create value for businesses, communities, and the planet.”
