A NEW Scottish energy company which aims to give customers control of their gas and electricity has received its Ofgem licence. People’s Energy, based in East Lothian, will give customers 75 per cent of its profits and provide free shares to those that remain with the company. Securing the Ofgem licence means the company is now legally able to enter the market and start registering customers to be supplied with gas and electricity. Co-founders David Pike and Karin Sode said they decided to establish the business as they were tired of the so-called Big Six energy firms and continual price hikes. They want People’s Energy to be completely transparent and customer-focused. The company said customers will have a voice in shaping the firm with representation on the board, while information about salaries, accounts and prices will all be shared. Pike said: “The vision for People’s Energy is to have over one million customers, all of whom are in control of their gas and electricity and getting a percentage of the company’s profits back.
The National 10th May 2017 read more »
German energy giant Eon has warned the Conservative Party’s proposed price cap on standard energy tariffs could “really ruin things” for its business in the UK amid warnings investors could be put off should the policy become law. The 16bn euro parent of Eon UK – which has approximately 4.6m customers in the UK – is the latest energy company to insist that rising competition in the UK energy market could be dashed by “excessive regulation” of energy prices. Britain’s two largest energy suppliers – British Gas and SSE – have already spoken out against the Tory’s plans to intervene in a bid to ‘fix’ the market after a rash of price hikes earlier this year.
Telegraph 9th May 2017 read more »