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Bristol Energy is open for business
The city’s new municipal energy company, which reinvests profits into council services, officially opened for business on Tuesday.
Bristol Energy, one of the only council energy companies in the country, aims to be a “socially responsible” energy firm, providing cheaper bills and supporting local renewable energy producers.
Average customers in Bristol who make the switch could save £276 annually, amounting to mean savings of around £11m across the city, the company’s new managing director, Peter Haigh, said.
He added: “We have to pay energy bills anyway, so why not pay them to a company that will spend the profits on local services and projects?”
The company has cost the council £3.1 million to set up. The European Investment Bank is providing additional funding the company. Once it is making money, profits will go back into the council without being ring-fenced.
Anyone can switch to Bristol Energy from wherever they are in the country. The company will buy its energy wholesale from large providers to begin with, and later plans to support local renewable energy generators.
Mayor George Ferguson said: “By switching, people become part of this very special initiative that could really make a difference to the lives of Bristol’s citizens.”
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