Ever thought that you could run your energy company better than the fat cats who get paid millions to do it? Well, that’s exactly the opportunity that People’s Energy wants to give their customers. Read on to find out how!
No fat cats. No pension funds. 100% renewable energy. People’s Energy has a revolutionary idea about how to run an energy company. It aims to give its customers complete control of their energy - and the company that supplies it. The company was founded in 2017 with the help of 2,200 crowd funders who helped them raise the original capital to get started.
David Pike, the director of the company has stated that People’s Energy is “a movement as much as an energy company.” In fact, the company works very much like a co-operative. The idea is backed by many business people such as Peter Lederer, the former chairman of Gleneagles and John Wright, the former chief executive of Clydesdale and Yorkshire banks.
Customers are being offered the chance to form a part of the advisory board of directorsby volunteering. To participate customers must commit to a two-hour meeting every two months in either Edinburgh or Musselburgh. Customers can check out the minutes of the meetings and live stats about the company by checking the dashboard on their website.
People's Energy Reviews
People’s Energy has got off to a good start with an overall rating on Trustpilot of 76%. 71% of their customers rated them excellent and only 12% were unhappy with the service, giving them a bad review.
Customers generally seem happy with most aspects of the service with People’s Energy. Customers praise the customer service on the telephone, stating that the service was like “being back in the good old days” and were happy that they didn’t have to use any automated telephone menus. They answer 84% of their calls in less than a minute and have a five-second waiting time to speak to a customer representative. They are proud of the fact that they typically respond faster than calls to 999.
Customers felt that they were being saved the need to change every year as the tariff was a variable which would always track the price of the wholesale energy. They felt, generally, that the concept gave them back more power over their energy.
Of the few complaints that they had, customers complained that they did not receive bills. Customers were sometimes left waiting for months without any bills or meter readings. It seems like many new energy companies, People’s Energy has some teething problems that they are still in the process of sorting out.
Overall we would say that People’s Energy is off to a reasonably good start. The company claims to want to bring the focus back on the customer, always picking up the phone for current customers before new ones and making sure that their billing is clear and simple. So far it seems like they are fulfilling these promises.
Only time, however, will prove if the company can fulfil their promises and really give the power back to the people. The company has plans to expand and aims to have 1 million customers by 2024 so it has yet to be seen if People’s Energy can maintain their standards as they grow.
People’s Energy has a simple online account where you can manage your energy without having to call someone. Customers can log in to the online portal where there are various services are available such as:
- Manage your account
- Check your balance
- Monitor energy usage
- Set up a direct debit
Unfortunately, at the moment People’s Energy doesn’t have an app. You can log in to your account here:
Tariffs and Prices
People’s Energy claim to have saved their customers over £2 million. People’s Energy has just one simple tariff called “The People’s Tariff.” It’s a variable rate tariff which has no exit fees. The tariff is available as a dual fuel tariff or economy 7 tariff.
As it is a fixed tariff it will track the price of electricity and gas as they change on the wholesale market. Variable tariffs are generally more expensive than fixed tariffs and customers must be prepared for fluctuations in their bills.
Customers must provide 30 days of notice if they plan to leave and the company states that they will give 30 days of notice before any changes in the price of electricity and gas.
Obviously, the most special thing about People’s Energy’s prices and tariffs are that 75% of the profits of the company will be returned to customers in the form of a rebate on their energy bills. In 2019, customers will start receiving discounts on their bills, meaning that they are effectively earning money on the profits that the company are making
The company says that they are giving customers a rebate instead of dividends as that way they won’t have to pay tax on their profits. In 3 years the company plans to change their structure and start giving shares to customers. They must wait until they become a private limited company before they can start doing this - at the moment it is too difficult as a limited company to keep a share register.
Currently, People’s Energy doesn’t have any tariffs for prepayment meters so customers who are on pay as you go (PAYG) would have to switch to a direct debit tariff if they want to sign up.
Below you can see the tariff label information (TLI) for People’s Energy variable tariff:
|Region||Elec price per kWh||Elec yearly price||Standing Charge per day||TCR||Gas price per kWh||Gas yearly price||Standing Charge per day||TCR|
|North East EN||12.324p||£382.04||20.88||14.78p||2.749p||£343.63||20.64p||13.51p|
|North West EN||11.934p||£369.95||20.33||14.33p||2.685p||£335.63||20.42p||13.32p|
|Merseyside & N Wales||13.052p||£404.61||22.11p||15.65p||2.773p||£346.63||20.83p||13.63p|
|South East EN||12.214p||£378.63||20.69p||14.65p||2.86p||£357.50||21.67p||14.08p|
|South West EN||13.217p||£409.73||22.39p||15.85p||2.877p||£359.63||21.61p||14.15p|
Last Updated: April 2018
To get a current personalised quote to see if you could save by switching give us a call; however, until then you can see a premade tariff quotation below for the 13 pricing regions across the country.
Unlike most companies, whose main sources of energy are usually fossil fuels such as coal, natural gas and nuclear power, People’s Energy claim to want to supply 100% renewable energy.
On their website thay state that their fuel mix is 100% renewable energy. That means that it comes from sources such as wind, solar and hydroelectric and they have the REGO certificates (Renewable Energy Guarantees of Origin) to prove it.
They are aiming towards also providing 100% green gas however they don’t have the capabilities just yet. Just watch this space as they are currently working on solutions!
One drawback of People’s Energy is that they are not currently installing smart meters. What does this mean for customers? Well, customers who already have a smart meter installed in their house or flat will be able to switch to People’s Energy, but they will go back to operating in “dumb mode.” This means that your smart meter will act like a traditional meter and you will need to send in a manual meter reading each month.
Smart meters show how much electricity and gas you are using on a digital display. They also do your meter readings for you, automatically sending data to your supplier so that you don’t have to do it manually. Smart meters can help customers save money on their gas and electricity bills by letting them see exactly how much they are spending and act accordingly to reduce their overall use.
Although the company isn't currently installing any meters for customers, they will have to do so in the next two years as new legislation has been brought in, forcing energy companies to install new meters in homes for free.
Warm Home Discount Scheme
Companies need to have at least 250,000 customers in order to qualify for the discount scheme and as such People’s Energy isn’t quite big enough to qualify yet. You can find out about the Warm Home Discount and other similar schemes such as the Cold Weather Payment then you can check out our ultimate guide to the Warm Home Discount.
Although the Warm Home Discount is a fantastic scheme it may still be worthwhile switching. The difference in price between the big six and small independent suppliers such as People’s Energy can be so great that you would be better off going for a company without the Warm Home Discount but just with generally cheaper prices.
People’s Energy currently doesn’t have the ability to supply large scale businesses which buy their energy in half hour slots. However, they may be able to help some smaller business.
You can contact People's Energy easily by phone, email or by post. You can also contact them via social media. To find out the best deals on their tariffs, you can visit their website to get more infomation about how you can join.
If you'd like to contact People's Energy for general enquiries or for complaints then you can contact them on the customer services telephone number below or login to your account. Remember, in order to get an up to date comparison of how much you could save, give us a call or click here.
SSE Contact Number
Please check with your provider if you don't know how much a call will cost.
1890 686 868
*Monday to Friday: 9:10am-5pm
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Station Road, Musselburgh