Future Energy, a Newcastle-based electricity and gas supply company, has notched up its 1,000th customer, is set to establish a HQ in new premises and has recruited a team of 20 people since it officially started trading around six months ago.
The business is the North East’s new challenger to the so-called big six energy suppliers – promising domestic users across the region cheaper bills, accurate metre readings along with free smart meters in the future.
Future Energy is the brainchild of North East entrepreneur Tim Cantle-Jones who worked for two years to launch and realise his dream of establishing a regional energy supplier founded on principles of fairness and transparency.
Tim said: “It’s been an immensely challenging task bringing Future Energy to the market but we’re delighted to have made a strong start and reached some solid milestones. Establishing a start-up is never an easy thing, there are always a few surprises along the way, but Future Energy is now in a great position to offer households across the North East the best deals for their energy.
“As industry bodies have repeatedly said, from Ofgem to the Competition and Markets Authority (CMA), millions of householders are paying far too much for their bills.
“We’re delighted that 1,000 local customers have seen the benefits of switching to a locally based supplier committed to putting customers first and offering a better deal on energy prices.”
The CMA has highlighted the fact consumers are not sufficiently ‘engaged’ in the energy supply market and have traditionally received confusing and inaccurate bills.
Tim said: “We know the potential demand is there; we just need to show people across the North East how easy it is to switch and how quickly they can save money. We think we can cut 10-15 per cent off most household bills and still make a profit.”
Future Energy is confident of reaching 5,000 customers within the next six months and is already looking to recruit in preparation.
The company is due to relocate its head office from Newcastle Business Park and set up in Hoults Yard, Newcastle in the near future and expects to double staff within the year at its operational site in Armstrong Business Park.
Anyone looking to switch from their existing suppliers or find out more about the options can visit www.future-energy.com, or call 0800 158 5451.