Our Queen has spoken and she recognises the need for change.
Our main mission is to battle the Big 6 energy providers and work as a mutual company owned by its customer and not shareholders. Mutual Power UK will be the UKs first fully transparent energy provider owned entirely by its customers.
Having worked in the energy industry for over 10 years, I have seen first-hand the devastation that price hikes can have on consumers and the lack of support on hand to help those affected. It`s not enough that people are just poor these days but they have to be "fuel poor" as well. So what exactly are we getting for our money? Happy shareholders and high paid Chief Execs who are rubbing their hands all the way to the bank.
We have a FREE book which is now available to download through SmashWords. This is 48 pages of why we need to make changes now.
As mentioned above, we have no shareholders which mean we never have to worry about share prices or dividends and the decision makers will be our members, similar to a Building Society just for energy. All major business decsions will be put to a member vote.
Now let’s talk money and our commitment to keeping operating costs down.
Our main start-up cost is of course, the product. We need to ensure that we have enough energy to satisfy initial demand. We already have around 1000 customers who have registered their interest which is fantastic and we expect this number to grow as we approach go live. Our current go live date is 1st January 2018 which gives us enough time to ensure we are set up and ready to start getting you onboard.
We plan to set up our main office in Hampshire, initially starting out in rented offices with the hopes to purchase our own office within 4 years.
A customer billing system is also going to be one of our biggest outlays at the start and we want to make sure that the system we purchase is going to be able to grow with the business. We want to avoid having to purchase a new system in a couple of years because we have out grown the one we have.
As well as a customer system, we also require a telephony system which will provide the quickest possible response to your calls. No complex menus, no multiple transfers around the business, no excessive wait times and absolutely no engaged tones. You pay a huge amount of money each year and you deserve much more than you are currently getting.
£380,000 sounds like a huge amount of money but when you start to breakdown the costs to get off the ground, you will start to recognise that this money will not go far. Personally, I do not believe that 100% of our start-up costs should be funded by you and we hope to secure additional funding through grants and minimal lines of credit. Unfortunately, as much as we hate having to borrow, it is going to be a necessary evil if we are to make this success. As I said, we want to be fully transparent and ensure that our members know exactly what position the business is in financially so we will provide all members with a 6 monthly update on business income and expenditure which will include all credit used and repayments.
Our commitment to our members…
Over the years I have worked for one of the big 6 providers, I have seen a huge number of regulatory changes which have been introduced to protect consumers with the most recent being the concept of “Treating Customer Fairly”. I have put the link below to the Ofgem website which outlines the standards of conduct expected under the energy retail market reforms.
Let us as a nation have a very open and honest debate on what you want from your energy provider. Let us be honest and say that the concept of free energy is very unlikely but we do not need to be filling the pockets of overseas shareholders. We want you to design a company that works for you. We want the entire country to benefit from reductions in the cost of energy as they happen. If the global markets benefit from decreases in oils and other fuels, why should these energy companies reap the rewards while customer struggle to heat their homes?
In summary, we are asking a huge amount from you and anything you can pledge will be used to create a new generation of energy supply. In return, we promise to provide you with the equivalent value of your pledge in energy. In the interest of transparency and honesty, this return on your pledge will not be straight away. We need the initial 50,000 customers on board before we return your energy pledge to you so month 13 from go live will be a busy month for our billing department but we promise to get this back to you. Remember, our energy will be without profit and we forecast it to be around 25% cheaper than the current average standard tariff cost so you get more energy for your money. Return limits on a pledge is capped to a maximum of 1 years usage back on the national average so please read the full details on the Donations and Rewards section to ensure you fully understand our terms.
We also want to advocate social change and drive true ethics so if you decide after the initial 12 months that you want to donate your pledge, we will open up an “energy bank” which we will deposit your units of energy into and these can be gifted to vulnerable customers who may be struggling through the winter months.
So, this is our mission in a nutshell and we hope you get behind what we are trying to achieve. Even if you cannot support with a pledge, even if you share our story with your friends and family, it would really help us to get the word out. The more people we have supporting us, the more power we have to make some real changes.
Our website will be up and running soon and you can register your interest in our mission on there. We promise your information is safe with us and we will never sell or share your details with anyone else. We will send you regular updates on our progress and you can watch our story unfold.
Pledge Terms - Please read before you pledge.
Our pledge structure has been set up in the hopes that it makes it possible for everyone to be able to support us. Everyone who makes a pledge will receive an energy reward which is at least equal to the pledge they have made.
So there is absolutely no small print, I want to make it clear that the rewards will be issued starting from the 13th month after we go live.
All rewards will be applied to your account as 'energy credit' and will go towards your monthly usage until the credits are exhausted. We will ensure that it is made clear on your bills how many units have been used and how many (if any) units are remaining.
We are super confident that you will not want to leave us, but if you do, your energy credits are non-transferable to other suppliers and cannot be given as cash refunds. They will however not go to waste, any remaining energy credit will be transferred into our 'vulnerable units bank' which will go towards helping people who struggle to keep their homes warm in the winter.
EVEN IF YOU ARE UNABLE TO MAKE A PLEDGE, WE STILL WOULD APPRECIATE ANY INPUT YOU MAY HAVE.
Let us know what you want from your energy provider and whats important to you? If you would like to register your interest and would like to receive updates on our progress, please email us your details:
We thank you again for taking your time in reading through this and apologise that I was unable to keep it brief but my passion for this project is immense.
Ian Warner – Mutual Power UK