People’s Energy has recruited more than 10,000 customers who have switched to the firm less than twelve months from launch. The energy supplier took on the ‘Big Six’ last year through a crowdfunding campaign that raised over half a million pounds.
People’s Energy commissioned research this month that found nearly two thirds (62%) of the population think companies have become greedier in the past ten years and 40% said companies were less honest. This shows a backlash against big corporates and opens up opportunities for new entrants to the market looking to provide affordable energy options and give back to consumers.
The research found that 58% of Post-Millennials (18-21 year olds) and 54% of Millennials (22-37 year olds) believe that they can personally take actions to change the world for the better compared with just 38% of over 54s. This new type of emerging consumer is much more interested in aspects such as the environment and ethical treatment of staff than lining shareholder pockets.
People’s Energy offers opportunities for its customers to influence the way it works, including having customer representation on the board and an open door, transparent policy for customer feedback. They are also creating a very different company culture, where openness, staff support and development is at the forefront.
David Pike, CEO and co-founder, said: “Our first year of trading has been better than we could ever have expected, and we’re delighted to be providing such a compelling alternative in the market. We weren’t surprised to hear that people across the UK think companies are becoming much greedier and less honest, this is one of the reasons we started People’s Energy. As a natural resource, we don’t believe our energy supplies should be making shareholders of UK PLCs richer, instead we believe in renewable, ethical supply and giving 75 per cent of profits back to our customers. More than 10,000 people have switched to us since we launched last year and the feedback has been fantastic.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement