Social landlords to launch energy company
A new independent energy supply company, the first in the UK operating on a non-profit distributing basis, plans to be selling heat and power to tenants in 200,000 homes across Scotland by 2020. The company has been founded by 35 member organisations including some of Scotland’s largest housing associations, and local authorities.
The company is backed by £2.5 million from the Scottish Government and another £1 million from Social Investment Scotland, both in the form of repayable loans. It will enter the market at the end of 2015 as an OFGEM licensed supplier of gas and electricity to provide lower cost energy to the tenants and communities of its member organisations. It expects to save its members up to ten per cent on their household utility bills compared to standard commercial tariffs.