London Power

About the city.

London has some of the lowest rates of switching between providers in the country, high levels of pre-payment meters usages (PPM), and low levels of energy efficiency measures, smart meters, and solar panels.

Goal

The aim of the project is to help Londoners save on their bills and supply the capital with energy from cleaner sources.

Implementation period. London Power launched on 13 January 2020.

Fact

Every year Londoners spend an estimated £3.5bn on gas and electricity household bills.

Solutions

London Power offers a 12-month fixed tariff rate, named «My London» fixed yearly plan, which it claims will be within the cheapest 10% of similar tariffs, estimating an average household could save £300 per year.

London Power offers no exit fees and a roll-over into the cheapest similar tariff at the time a customer’s contract ends.

London Power offers all inhabitants:

• Fair and competitive pricing
• Automatic rollover on to London Power’s cheapest comparable plan after fixed-term plans end
• Electricity generated from 100% renewable sources (all electricity is combined with energy generated from renewable sources such as solar and wind power.)
• Hassle-free experience with simple energy plans, quick online switching, and  world-class customer service.

In addition, profits from London Power are reinvested in community projects that help 12% of Londoners living in fuel poverty and help the city cope with a climate emergency and achieve net-zero carbon emissions.

Team

Mayor Sadiq Khan and Octopus Energy.

Timeline

Plans for London Power were first announced in September, with the launch date in December. Since then, more than 1,000 London citizens have registered interest in the supplier.

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