London Power, a new renewable-only energy supplier, has been officially launched in the nation’s capital. The London-specific supplier was launched by the Mayor of London, Sadiq Khan on 13 January. It comes as a joint partnership between the Mayor of London and Octopus Energy.
It offers a 12-month fixed tariff, dubbed My London fixed yearly plan, which it claims will be within the cheapest 10 per cent of similar tariffs, estimating an average household could save £300 a year. A separate plan, My London top-up plan, will be available to pre-payment customers.
“London Power is a different kind of energy company. For the first time we have a fair, affordable, green energy company specially designed for Londoners,” Khan said, according to Business Green. London Power offers no exit fees and a roll-over into the cheapest similar tariff at the time a customer’s contract ends.
Profits are set to be reinvested into community projects helping those living in fuel poverty, working to tackle the climate emergency and working to make London zero-carbon. Stuart Jackson, co-founder and CFO of Octopus Energy, said Octopus “couldn’t be happier” to launch London Power, offering “a good deal on planet-friendly power”.
The launch of the supplier comes as part of the Mayor’s Energy for Londoners programme, aiming to make London’s homes warm, healthy and affordable, its workplaces more energy efficient and its energy supply more local and clean. Over 1,000 Londoners have registered interest in London Power. It was unveiled in September, with an original go-live date of December.
If you’re seeking green energy solutions and business energy consultants, get in touch with our team today.