Robin Hood Energy
Robin Hood Energy is the first not-for-profit energy company owned by a local authority.
Robin Hood Energy was launched in 2015 by Nottingham City Council to compete with the UK’s Big Six energy suppliers. It is the UK’s first not-for-profit energy company owned by a local authority. The company aims to provide low-cost energy to households and address fuel poverty. It provides special tariffs to residents in Nottingham and provides a socially orientated pricing structure across the UK.
Robin Hood Energy says: “We’re a not-for-profit company, so we can keep our prices low and competitive. We don’t have private shareholders watching our every move, or big bonuses for our company directors.” Instead, all profits are reinvested in the company.
The company has partnered with a number of other local authorities to create municipal energy providers in those areas, including Islington’s Angelic Energy, Liverpool’s The Leccy, Derby’s Ram Energy and Leeds’ White Rose Energy.
In July 2018, Robin Hood Energy announced that its electricity supplied to UK homes and businesses would be 100% renewable and it would also voluntarily enter into the Warm Home Discount scheme, which offers the elderly a payment of £140 over the winter period to help with fuel bills.
In January 2019, the business was rated as second best in the UK for customer service as part of the annual Which? survey.
New rules needed
Policies that can help unleash the potential of this or similar initiatives across the UK.
Promote community wealth building
Support co-ops to thrive in their localities by anchoring them within place-based industrial and community wealth building strategies.
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Introduce a Sustainable Economy Act
Climate change laws should be extended to set binding targets to protect all aspects of our environment.