A Welsh start-up is hoping to take on the big energy companies and become one of Wales’ leading energy suppliers.
One Wales Energy – Un Ynni Cymru, the only independent energy supplier based in Wales, is launching a new crowdfunding campaign for individual investors as it begins preparing for its initial ’switch on’.
The Welsh domestic energy supply market is worth nearly £1.4bn very year. One Wales Energy – Un Ynni Cymru aims to secure 10% of that market by 2023 and wants Welsh investors and individuals to benefit from the profits.
Having already raised the initial start-up capital for the venture, the company’s founders are now trying to raise a further £700,000 to help fund the project as it prepares to take on customers for a full launch in early 2018.
The company’s founders, Jude Cook and Jon Townsend, hope that its values and strong Welsh roots will help set it apart from the so called ‘Big Six’ energy suppliers and other newer players in the energy supply market.
One Wales Energy – Un Ynni Cymru holds a full licence from Ofgem to supply electricity and gas in Wales, England and Scotland and, as an approved supplier, the founders say it will offer customers competitive tariffs, no-hassle switching and a Wales-based bilingual customer contact centre.
Ms Cook said: “In Wales we are losing out – there is no domestic energy supplier based in Wales, so most of the money we all spend on energy leaves the country. At One Wales Energy – Un Ynni Cymru we believe in a fairer and more exciting energy future for Wales.
“As an independent supplier we are totally committed to bringing a new approach to Welsh customers, with a more affordable and sustainable energy supply offer, which also enables people in our communities benefit from the profits.”
Ms Cook and Mr Townend both have a background in the renewable energy sector and in environmental regeneration in Wales.
They are running One Wales Energy – Un Ynni Cymru as a ‘profit with purpose’ business. This approach combines a conventional profit-making business with a commitment to supporting social and environmental benefits across Wales.
As part of this they will be running a community affiliate scheme offering organisations a way to generate a long-term income stream by earning referral and retention fees when their members, supporters, local community switch to One Wales Energy – Un Ynni Cymru.
Mr Townend added: “This is an exciting time as we prepare to launch the business and take our first step towards making One Wales Energy – Un Ynni Cymru into Wales’ leading energy supply company.
“We’re offering an opportunity for the people of Wales to become their own energy supplier. We hope that families, communities, organisations and businesses in Wales will be proud to join us on our journey and help us ‘put the energy back into Wales.’ ”
One Wales Energy – Un Ynni Cymru is holding information sessions for potential investors and others interested in having a share in the company’s future.
The initial sessions are being staged in Cardiff and the Vale of Glamorgan between July 10 and 13, and similar sessions are planned in other areas of the country later in the year.
The locations for the first sessions are:
Evenlode Primary School, Penarth, July 10, 7pm:
Cardiff Golf Club, Cyncoed, Cardiff, July 11, 7pm:
Chapter Arts Centre, Canton, Cardiff, July 13, 7pm: