Published: 20th Sep 2019

The Mayor of London Sadiq Khan has announced plans for a green energy company, available exclusively to Londoners, with all profits reinvested into community projects to help tackle fuel poverty. The new company will be called London Power and is a partnership between the Mayor and Octopus Energy, who were chosen after a ‘rigorous’ procurement process by City Hall. The Mayor hopes the new company will give Londoners fairer energy prices as every year Londoners spend an estimated £3.5bn on gas and electricity household bills. London Power will offer 12-month fixed tariffs for electricity and gas, which they say will always be within the cheapest 10% of comparable tariffs available in the market. It is estimated that the tariff could save the average London household around £200 a year if they switch. London has some of the lowest rates of switching between providers in the country, high levels of pre-payment … (To read the full article, subscribe below)