UK couple launch energy firm29/08/17Energy
A couple in the UK are to take on the ‘Big Six’ energy firms with an alternative, ethical, customer-owned energy company and have already pre-registered more than 4,500 customers.
Over the coming week new users will begin to receive gas and electricity from People’s Energy across the UK as the company begins trading.
David Pike and Karin Sode raised funds, secured an OFGEM licence, won an entrepreneurial and innovation award, and built a team from their base in Musselburgh, near Edinburgh.
Their vision is to put one million people in charge of their own energy by 2024 and provide an alternative for customers who have lost trust in energy suppliers. People’s Energy gives 75% of profits back to its customers, who are represented on the board of directors.
People’s Energy will share salaries, decisions, accounts and prices with customers, becoming the first completely transparent and customer-focused energy company in the UK, with only one simple tariff and 100% renewable electricity.
Customers receive free share ownership of the business within three years.
Pike said: “We want to create not just a different kind of energy company, but an entirely different approach to services that put people squarely at the centre. Energy belongs to no one: we all need this resource, and all should benefit from it, not just a few greedy shareholders.
“We’ve had a fantastic response from customers and industry players pre-launch, and now that we have the foundations in place we’re ready to go.”
Sode added: “We offer customers a genuine opportunity to shape the direction of the company, and unlike others in our industry the customer will be at the heart of everything we do – in actions, not just words. That’s why we offer transparency and share the profits. We believe that people have the right to be treated with respect, as owners of their own energy and of the company.”