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UK power couple launch energy firm

The company’s vision is to put one million people in charge of their own energy by 2024

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People’s Energy gives 75 per cent of profits back to its customers
People’s Energy gives 75 per cent of profits back to its customers

A couple whose crowdfunding bid raised nearly half a million pounds to take on the ‘Big Six’ energy firms with an alternative, ethical, customer-owned energy company have launched to the market and pre-registered more than 4,500 customers in the UK.

 

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, 53, and Karin Sode, 47, became so fed up with existing UK energy firms that they decided to do something about it. Over the past year they have raised funds, secured an OFGEM license, won an entrepreneurial and innovation award, and built a team from their base in Musselburgh, near Edinburgh. They are now open for business and available to sign-up new customers for energy supplies.

 

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 per cent of profits back to its customers, who are represented on the board of directors.

 

Pike originally trained as an engineer and in recent years has provided leadership consultancy to the power generation and network sectors for EDF and Scottish Power. Sode is an experienced management consultant who has supported CEOs and entrepreneurs of small and large, global companies across Northern Europe.

 

People’s Energy will share salaries, decisions, accounts and prices with customers, becoming the first completely transparent and customer-focused UK energy company in the UK, with only one simple tariff and 100 per cent renewable electricity.

 

Customers receive free share ownership of the business within three years. When customers stay with People’s Energy they are given free shares which they can keep as long as they remain a customer. They can’t sell the shares to someone else.

 

David 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.”

 

Customers will vote and shape the direction of the company. When major decisions need to be made within People’s Energy, customers will have a vote on the direction of the business.

 

Karin 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.

 

“We are seeing people recommending this approach to others, and the pre-registrations have been rolling in! We have big plans and are excited to be offering something very different to the market.”

 

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