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Mayor of London launches new green energy service

On the 13th January 2020 the Mayor of London launched his new green energy company.

The service has been created for the residents of London in the aim to reduce fuel bills. It’s also another step towards making London a zero-carbon city.

The estimated gas and electricity billing for households in London is £3.5 billion per year. Along with this, Ofgem found that London has one of the highest levels of pre-payment meters in the UK and one of the lowest rates of switching energy supplier. This results in higher costs and not much access to good deals.

London Power aims to provide a fair priced energy service which could save Londoners:

  • £300 a year if paying by direct debit
  • £160 a year via pre-payment

This innovative project comes at a time when over 1 million of London’s residents are living in fuel poverty.

In addition to this, any profits that are made at City Hall will be reinvested back into community projects. The projects will work on tackling climate change, making London a zero-carbon city and helping people in fuel poverty.

Head over to http://bit.ly/36U0KOj to read more on the new London Power service.

Categories: Finance, Environment, Energy (General)
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