Islington Council has launched London’s first municipal energy provider in more than a century, with a focus on offering fair gas and electricity prices.
Angelic Energy, the not-for-profit energy provider set up by the council to help further its commitment to reducing inequality in society, will help the council address a stark inequality in energy prices. The borough has the third-highest level of child poverty in the country at 36 per cent, and one of the biggest gaps between the wealthiest and poorest residents.
Energy prices, which have risen 36 per cent above inflation over the last 10 years, leave many households struggling to keep up with payments, pushing them onto expensive Pay As You Go meters that offer even worse rates, speeding their fall into greater debt and enduring fuel poverty.
Claudia Webbe, executive member for environment and transport, said: “For years, inflated energy prices have forced thousands of people across London into fuel poverty, with catastrophic consequences for their health and quality of life. Too many are forced to face the question ‘heat or eat?’.
“Children brought up in fuel poverty also do worse at school and college, so helping current and future generations to stay warm and well is an absolute priority for us. With Angelic Energy, Islington is leading by example in London, taking practical steps to drive down fuel poverty and encouraging people to make the big switch. We will be offering residents superb customer service and great-value energy tariffs – residents could save up to £277 per year.”