The UK’s reigning green energy company, Ecotricity, recently announced that it will be extending its energy price freeze for all customers yet again (following one announced in October).
This new price freeze goes until October 1st, making for a total of 21 months with no changes in pricing — impressively, that’s the longest such period of price stability in the whole of the energy industry.
According to the company, the reasons for the freeze are down to “greater energy independence after a good year for wind in 2013, and improved economies of scale after passing 100,000 customers.”
So, in other words, just a steadily growing business that wants to pass along its savings to its customers. 🙂
The press release from the company provides more details:
Ecotricity generates around 40% of the green electricity it supplies from its own wind and solar parks, and after a record year for wind power in 2013 the company is keen to share the benefits of that record generation with its customers.
The company has grown customer numbers by 50% in just 6 months and only this week passed the 100,000 mark, the first green energy company to reach that milestone –– the significant increase has given the company greater ability to absorb cost increases and maintain stable prices.
Ecotricity’s founder, Dale Vince, explains: “This price freeze is about sharing our success with our customers. We had a great year for wind energy in 2013, and a big increase in people switching to us from the Big Six – and because of our unique not-for-dividend model, we can ensure it’s our customers who benefit, not shareholders.”