National energy provider gives profits away

National energy provider gives profits away

EBICo Limited, the not-for-profit electricity and gas supply company set up to help give a better deal to low income households has announced that it was giving away its profits from 2006.

‘It looks like we’ll have made a small surplus of a few thousands of Pounds in 2006 after setting aside some money for contingencies’, said Phil Levermore, EBICo MD. 

‘We’re not here to make a profit’ said Phil, ‘we’re here to offer energy consumers a fairer choice, so we’ve decided to donate it to a couple of organisations who can use it to tackle fuel poverty, which is one of the key objectives of our company.’  

The company is developing links with social housing providers in order to bring its lower priced energy tariffs, EQUIGAS and EQUIPOWER, to the attention of their tenants.  

‘We spoke to Golden Gates Housing in Warrington and the Cambridge Housing Society’, said Phil, ‘and agreed that we’ll make a lump sum available to each of them to use in the manner they think most appropriate to help their low income EQUIGAS and EQUIPOWER customers with fuel costs this winter.’  

EBICo Chairman, Rev Hugh Lee said, ‘The sums involved with us are very small, but never the less we felt it was important for us, as a not-for-profit company, that surpluses should be used to further the aims of our social enterprise and help households on low incomes.’

Chief Executive of Cambridge Housing Society, Nigel Howlett added, ‘This is good news for our residents who are customers of EBICo.  One of the reasons we decided to work with EBICo was their commitment to providing the best deal for low income customers.  This gesture is further evidence of their commitment’.

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