Press release -
New kid on the energy block promises bright future
Thursday 4 June saw the launch of a new energy supply company for North East England – with a promise to save households up to £300 a year.
Newcastle-based Future Energy will challenge the so-called Big Six energy supply companies head-on by offering transparent and fair pricing and bills that are easy to understand.
The company – which was formally launched to regional business figures at an event at the North of England Institute of Mining on 4 June – is the brainchild of North East entrepreneur Tim Cantle-Jones, 54, who said: “Our research shows that the average household in our region is paying as much as ten to 15 per cent more than it should for its gas and electricity.”
At the heart of Future Energy’s business model is challenging the inefficiencies of the Big Six: “They have systems in place that are bloated and inefficient, whereas we will be a lean and efficient operation with low overheads.”
Next year, Future energy plans to supply its customers with so-called smart meters to enable them to know at all times how much power they are using and what it is costing them. Future Energy has been at the forefront of training the new generation of meter installers to help meet government targets for every home to have a smart meter by 2020.
Future Energy – which will be the first power supply company to be based in the North East since the days of Northern Electric – aims to have signed up 6-8,000 households by the end of November.
“Our target is to sign up 1,000 customers a month in the first instance and we believe this is achievable. We hope to have signed up 80,000 to 100,000 customers in the region within three years.”
Future Energy will open for business in July at premises on Amethyst Road, Newcastle Business Park, where it will initially create about 20 new jobs.
“This will be a local company for local people and a percentage of all profits will be ploughed back into local charities,” said Tim, who brings to bear experience gained in a variety of entrepreneurial roles in the North East and nationally throughout his career. Future Energy marks the culmination of three years’ development work, prior to which Tim was involved in the delivery of neighbourhood energy-saving schemes and low-energy lighting solutions.
Future Energy will start switching customers from their existing suppliers in July but intending customers can pre-register via the website http://futureenergysupply.co.uk now.
Topics
- Business enterprise, General
Categories
- public relations
For more information please contact Jennifer Robson on 07577999757/ jen@sparklecommunications.co.uk or Nicola Little on 07939 537 123 / Nicola@sparklecommunications.co.uk
-
Notes for editors:
- 1)Smart meters, to be installed by Future Energy next year, will give consumers:
1.near real-time information on energy use, in pounds and pence
2.the ability to manage their energy use, save money and reduce emissions
3.an end to estimated billing – people will only be billed for the energy they actually use, helping them to budget better
- 2)The number of people in North East England who pay for their power with (more expensive) prepayment meters is above the national average. Recent research in a relatively deprived part of the region, near Stanley, County Durham, suggested that nearly half of all households were using prepayment meters – three times the figure nationally – and most people had no idea what tariff they were being charged. The 2012 research, in which Tim Cantle-Jones played a key role, was sponsored by the Department for Energy & Climate Change and covered 500 households.
- 3)The so-called “Big Six” energy suppliers currently supply power to more than 90 per cent of UK homes. They are British Gas, SSE, Scottish Power, Eon, EDF and npower
- 4)Tim Cantle-Jones’s diverse career has seen him achieve regional and national success in sports management, festivals, and energy conservation.
- 5)Tim is married with four children and lives in Newcastle.
