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Nottingham to set up its own energy company

Nottingham City Council has announced that it is to set up an energy company to compete with the big six.

Approximately £1 million will be invested into the country's first council-run energy firm, which could save 177,000 households in the area up to £120 per year, the Nottingham Post reports.

According to the council, the company will run on a not-for-profit basis in order to provide its residents with cheaper bills.

Starting next year, a high street shop and a call centre will be set up in the city centre with the hope of turning it into a multi-million pound scheme.

Alan Clark, the city council's portfolio holder for energy and sustainability, said "The way supply chains work means that we can offer the best possible deals to Nottingham people.

"Our aim isn't and never will be to be like one of the six big energy suppliers."

He added that the scheme was needed in order to cut fuel poverty.

Posted by Helen Hughes