Community energy company Mongoose Energy is to launch a supply business before the end of the year.
The company said the supply business, which will be known as Mongoose Energy Supply, will be run in partnership with community energy groups, which return profits back into the local community.
The new supply business will source its electricity from renewable projects and will have a competitively priced range of tariffs for its customers, the company said.
Mongoose Energy Supply will announce its launch tariffs during the third quarter of 2016 and the full management team during the second quarter.
Mongoose chief executive officer JW Bode: “This is a first for a UK energy company and, with the majority of our profits going back into the community groups, I believe this has the potential to transform the nature of energy ownership in the UK.”
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