In a radical new move we will put profits and ownership in the hands of UK consumers of gas and electricity.
People are fed up with being taken for a ride by large corporates, and they have lost trust in their energy suppliers (43% of consumers don’t trust their supplier to be fair, according to ofgem).
75% of the profits will be returned to customers in an annual rebate!
When customers stay with Our 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. We want UK Citizens to always own their own energy supply.
When major decisions need to be made within Our Energy, customers will have a vote on the direction of the business.
We aim to be the first fully transparent and open energy company in the UK! We share decisions, accounts, our salaries, wholesale energy costs openly.
Together we can change the way that resources that are naturally yours get distributed to you. Power in your hands – no less, no more.
Peter Lederer CBE, Chair of Our Energy and former Chair of Gleneagles Hotel says:
"It’s time to build an organisation where the consumer actually has control, consumers' views about company direction are sought, and most importantly where the majority of the profits are returned to the consumers. In other words, it is time for an ‘energy democracy’."
To run an energy business requires a lot of complex processes to run smoothly in order to get regulatory approval. It also requires excellent systems that work first time, every time, in order to ensure that we don’t let customers down with faulty bills, delayed credit payments etc. (as some other providers have). All this costs a lot to set up. Initially, we are looking for £10,000 from supporters to help get this project off the ground.
More specifically, the money will be used for:
A contribution towards our market entry costs such as an ofgem licence and system approval
Initial set up costs, including a webpage site, information technology infrastructure and specialised energy consultancy costs
In addition, we need your help with spreading the word – please forward this link to your friends, family and contacts! The more people we get involved, faster, the quicker we can wrestle the power back into your hands!
You will contribute to changing the way services are delivered to the people of the UK, establishing democracy and ownership in an area where consumers have previously felt powerless.
You can be one of the first people in the UK to become a customer (we limit the initial number of customers to 30,000) and reap the benefits of this alternative approach.
You can help get a company going that - if you also choose to become a customer - will allow you to get ownership and money back on what you pay, year on year. This means you would never need to switch again as you will always get the best deal. You will also always know that what you pay is fair (due to our full transparency policy). And finally you will have a say in the type of energy supplied to you (e.g. what type of renewables are used).
We use lots of big words – but we back them up with clear actions. Promises made, promises kept!
- We give 75% of the profits back to you in an annual rebate, starting from year 1. As we grow your rebate will grow – so please share this idea with your friends and family!
- By year 3 you will get shares that you don’t have to pay for (in total 75% of share ownership goes to customers)
- By year 9 100% of the company will be owned by customers
- Customers have a voice on the Board of Directors
- All customers have voting rights on the direction Our Energy is taking
- We actively seek to foster honest dialogue and give you honest answers
- We prioritise dealing with questions from existing customers rather than chasing new customers
- We say what we can and can’t do
- We get straight onto dealing with changes of circumstances to ensure your experience is seemless
- We have two tariffs - ‘green’ and ‘lean’. They are simple and easy to understand so you can make an informed choice
- We want to give you an opportunity to use 100% renewable energy, and we would love a dialogue with you about what this means for you
- We share any information we can with you
So far we are a highly experienced team consisting of David Pike (Chief Executive Officer), Duncan French (Chief Financial Officer) and Karin Sode (Chief Strategy and Marketing Officer).
Chair of the Board is Peter Lederer CBE (former Chair of Gleneagles, Director Diageo Scotland, Vice Chair of the Royal Edinburgh Military Tattoo), and John Wright (former CEO of Yorkshire and Clydesdale Banks) is senior advisor to the Board.
David's experience is described in the Project Owner profile.
Duncan's responsibility is to deliver a strong finance function which will assist Our Energy in delivering on its promise to return 75% of profits back to the customer. His experience comes from over ten years at the top accounting practices (PwC and Grant Thornton) as well as working as a Finance Director for a highly successful entrepreneur. He has delivered new finance functions which have adapted to growing businesses. This is due to his highly logical and holistic approach. He originally qualified as an Accountant with PwC.
Karin’s role is to help define the business and marketing strategy, focusing on how to make this work for you, the customer, and help create an organisation that deals with your frustrations in the current energy market. She uses her background in applied communication (PhD Level) to establish innovative ways for businesses to engage with employees and customers, having worked with organisations such as Scottish Power, BP, Skyscanner, Velux, PwC.
Peter and John are both known for their focus on putting people before profit and driving truly socially responsible business (where responsibility is not just an add on but part of the fabric of the business).
We are excited about doing something that can significantly change citizens’ experience and provide them with greater power and influence again, plus allow them to get a return on a service that is there for their benefit in the first place.