Mayor of London Sadiq Khan has launched a landmark green energy company called London Power. Available exclusively to Londoners, the new company will offer fair energy prices with electricity generated from 100 per cent renewable sources, such as the sun, wind and water.
The new services are available effective immediately at mylondonpower.com. Just over 1,000 Londoners have already registered their interest with the new company.
According to a press release, the average household could save around £300 a year with the new services. With more than one in ten London households – over a million people – living in fuel poverty, London Power hopes to help struggling households pay their energy bills by offering fairer prices.
Payment plans include a competitively priced 12-month fixed tariff, which will typically be within the cheapest 10% of similar tariffs on the market, and a pre-payment service, which is currently at 14% below the price cap. Unlike most large energy suppliers, it will not charge exit fees for either plan and will even offer a roll-over onto the cheapest similar tariff at the time a customer’s contract ends.
“It is a disgrace that many Londoners pay too much to heat and light their homes,” said Sadiq Khan. “That’s why I’ve launched London Power – to give all Londoners access to a better, fairer deal safe in the knowledge that they won’t be automatically switched to a rip-off tariff when their contract ends.”
Any profits City Hall makes will be reinvested into community projects to help London become a zero-carbon city.
