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.
“Our company is about putting trust back into the market, currently there is very little. We want our customers to know that we have their best interests at heart and that with us they will have a say in how the company is run.”
The initiative is being backed by a number of senior business people, including former chair of Gleneagles Hotel Peter Lederer and ex-chief executive of the Clydesdale and Yorkshire Banks John Wright.
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here