Share Energy: New profit-sharing electricity supplier set to enter NI market
September 20, 2024
Share Energy: New profit-sharing electricity supplier set to enter NI market
by Launch_a_poo
4 comments
I think the key sentence in this article is;
it notes it is “unlikely” to be in the black “in year one”
I like the concept though, but couldn’t they just reduce the unit price by say 20% if they truly believed there were huge profits to share, as the skeptic in me says the 50% profit share seems a bit gimmicky. Will be keeping an eye on it for sure though, unit prices seem broadly in line with power ni, so in some ways nothing to lose by signing up and any money back is a bonus
I’m going live on Monday so I’ll feed back on the experience. This model requires people to get behind it and support it to get the snowball moving down the hill, any future share of profits is directly linked to your consumption. There’s no contract as such so can always jump away if something better comes up.
Dividends are normally paid from net profit right? And they are charging the cheapest rates, so their profits are going to be tight anyway. but lets say they sign up 50,000 customers and they kill it and make £1m net profit. Half that is 500k, thats a tenner each. if its a straight split.
It’s a cheaper unit rate but they are adding standing charge on top. Power NI only seem to have standing charge on the EV and Economy 7 tariffs. Not on the normal direct debit or key pad ones
4 comments
I think the key sentence in this article is;
it notes it is “unlikely” to be in the black “in year one”
I like the concept though, but couldn’t they just reduce the unit price by say 20% if they truly believed there were huge profits to share, as the skeptic in me says the 50% profit share seems a bit gimmicky. Will be keeping an eye on it for sure though, unit prices seem broadly in line with power ni, so in some ways nothing to lose by signing up and any money back is a bonus
I’m going live on Monday so I’ll feed back on the experience.
This model requires people to get behind it and support it to get the snowball moving down the hill, any future share of profits is directly linked to your consumption.
There’s no contract as such so can always jump away if something better comes up.
Dividends are normally paid from net profit right? And they are charging the cheapest rates, so their profits are going to be tight anyway. but lets say they sign up 50,000 customers and they kill it and make £1m net profit. Half that is 500k, thats a tenner each. if its a straight split.
It’s a cheaper unit rate but they are adding standing charge on top. Power NI only seem to have standing charge on the EV and Economy 7 tariffs. Not on the normal direct debit or key pad ones