Switching to Green Energy may not be as expensive as you think
16 October 2008
Energylinx and growth in customer numbers
Green Energy UK reports rise in numbers choosing green electricity
Figures for national suppliers of 100% renewable and 100% green electricity, Green Energy UK, show an upsurge in people choosing cleaner electricity to power their homes and buildings. In the past two years Green Energy UK’s customer base has almost doubled, growing by 90%. This financial year, despite escalating fuel prices and 'credit crunch’ conditions, Green Energy UK's customer base has already grown by 50% - a clear indication how more people in Britain want clean energy and are prepared to pay for it.
Speaking about this rise, Green Energy UK Chief Executive, Doug Stewart, says: "We are still small when compared to the big six energy companies, but our business has grown substantially, and we attribute this growth to climate change awareness and our customer-centred approach to our business. People are assessing what they can actively do to reduce their effect on the environment, and switching to a green energy supplier such as ourselves is easy to do and dramatically reduces a household’s carbons emissions."
Green electricity is also not as expensive as some people believe. As the table from independent energy price comparison site Energylinx illustrates (below), depending where you live, the cost with a company such as Green Energy UK can be as little as just £1 more per week than nuclear or fossil fuel electricity, both of which create waste and add to global environmental problems.
British-owned Green Energy UK began life in 2001. Further explanation for its growth could be its unusual business model - Green Energy UK is giving away half of the company’s shares to customers. Each customer who signs up receives 400 shares. The idea behind share ownership is to make the company transparent to its customers by effectively making them owners. It also increases the customers’ involvement with the company - by owning a slice of Green Energy UK, customers have a vested interest in the company and its success, and can attend Green Energy UK’s AGM and put questions to the board. This can also generate discussion, ideas and ways that Green Energy UK can improve its business and service.
Doug explains why it was decided to give away half the company: "We wanted to reward people for choosing to be green. By involving our customers in this way as shareholders, we become a larger team that is striving for the same goal."
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* At present Green Energy UK shares have only a nominal value.