We are now a community interest company

We are thrilled to announce People’s Energy* is now a Community Interest Company (CIC). A CIC is a business that puts social objectives ahead of maximising profit for shareholders. It means you know we are committed to our values. Social responsibility isn’t a tick-box or a PR opportunity for us, like it is for so many other companies. It is why we exist.  

We never wanted PE to be a traditional company, forced by the interests of external shareholders to compromise our values in the pursuit of profit. Incorporation as a CIC offered us, and our members, the best way of ensuring that never happens, both now and in the future. No matter who’s in charge. 

We’ve committed to these social objectives: 

1. Helping individuals, families and households on low incomes, and especially those on pre-payment meters, access fairly priced energy. Historically these customers pay more for their energy than those with credit meters and we think that is just plain wrong. Pre-payment customers are often the least able to pay for their energy and yet they are charged the most. We’re offering a very competitive pre-payment rate – the first step along the road to levelling the playing field. 

2. Supporting community projects and charities that further the above aim 

3. Reducing our environmental impact through increased sustainability and the provision of greener energy. 

We’ll be setting up partnerships with charities and organisations that can help us deliver on these aims. And establishing a CIC Fund to finance initiatives. We will tell you more, once our plans are firmed up. 

*The People's Energy Company Community Interest Company is the holding company of the group. It owns 75% of the shares of The People’s Energy Company Ltd, which in turn owns 100% of People's Energy (Supply) Ltd. People’s Energy (Supply) Ltd is the operating entity (and Ofgem license holder).