New electricity supplier to share profits with customers
Share Energy has pledged to share 50% of future profits with customers
A new locally owned energy supplier has announced it will share half of its profits with customers.
Launching today Share Energy has said it aims to transform the Northern Ireland’s electricity landscape.
The company has entered the market with the lowest standard rate - but it will also share 50% of all future company profits with its domestic and commercial customers.
The company, owned and managed by three local entrepreneurs has already begun supplying electricity to households across Northern Ireland.
CEO Damian Wilson said Share Energy was established to offer an alternative to existing energy providers who have continually increased their prices to build even bigger profits for their shareholders.
He said: “Our extensive research has shown that Northern Ireland customers are fed up with paying over the odds to electricity suppliers who are raking in substantial annual profits for their shareholders. We believe our profit-sharing model will transform the market here, whilst also underlining our commitment to fairness, transparency, and value. We want to revolutionise the energy market – ensuring our customers directly benefit from our growth.”
Share Energy is using a profit-sharing model that splits company profits 50/50 with its customers through an annual rebate. Details of how the profit share will work are outlined on the company’s website.
The launch of the new energy company follows two years of research and development including a user-testing phase.
Mr Wilson added: “Share Energy will be a real gamechanger for consumers in Northern Ireland. As a local company owned by local people with wide-ranging experience in the electricity sector, our ambition is to create a fairer energy market for customers.”
Share Energy is available throughout Northern Ireland for both domestic and commercial customers.
Read More:
Man dies after car hits tree in Kilrea
Police probing graffiti attack in Londonderry
How to listen to Downtown Radio: