People's Energy Explained

The People’s Energy Company Limited
Type:	Energy supplier
Industry:	Utilities
Founded:	2017
Founders:	David Pike, Karin Sode
Location:	Shawfair, Scotland
Area Served:	United Kingdom

People's Energy was an energy supplier based in Shawfair, Scotland, which operated from 2017 until 2021.

History

Co-founders David Pike and Karin Sode launched a crowdfunding campaign in 2017 to launch the company with the promise of returning 75% of profits back to customers. On 31 July 2017, the company successfully raised £487,815 from 2,059 supporters in 199 days. The company received their Ofgem licence and launched in August 2017.^{[1] [2] [3]}

People's Energy Community Interest Company is the parent company of The People's Energy Company Limited, which owns People's Energy (Supply) Limited.

Defunct

On the 14 September 2021, it was announced that the company would cease trading with immediate effect. Several other companies, including PFP Energy, MoneyPlus Energy and Utility point, also fell within the same fortnight^{[4] [5]} on account of skyrocketing power prices.^[6]

Customer numbers

People's Energy supplied around 350,000 customers.^[7]

Energy mix

People's Energy offered 100% renewable electricity.^[8]

Notes and References

1. Web site: The People's Energy Company. Crowdfunder UK.
2. News: Meet the UK energy company that will give profits back to customers. Olivia. Boyd. The Guardian. September 1, 2017.
3. News: Couple set up own power company. BBC News. May 10, 2017.
4. Web site: What you need to know about energy prices . .
5. Web site: Energy suppliers Utility Point and People's Energy cease trading . https://ghostarchive.org/archive/20220525/https://www.independent.co.uk/business/energy-suppliers-utility-point-and-people-s-energy-cease-trading-b1919905.html . 25 May 2022 . subscription . live . . 14 September 2021 .
6. News: Joe Wallace . Energy Prices in Europe Hit Records After Wind Stops Blowing . 14 September 2021 . . 13 September 2021. U.K. wind farms produced less than one gigawatt on certain days, according to Mr. Konstantinov. Full capacity stands at 24 gigawatts.
7. Web site: Customer numbers.
8. Web site: Supplier Fuel Mix. electricityinfo.org.