13th January 2020 | Posted by: Daniel Birkett | Industry News

A new green energy company has been launched by Sadiq Khan to help provide a range of benefits in London.

London Power is a new green energy company launched by the Mayor of London, Sadiq Khan. Money generated by City Hall will be reinvested in a number of community projects with the aim of tackling issues such as fuel poverty.

The new company will also play its part in helping London become a zero carbon city; all electricity generated by the company will be 100% renewable.

The company will be led by London based, gas & electricity supplier, Octopus Power. The company website states: ‘London Power’ has been created to provide Londoners with energy that’s “good for your pocket, good for the environment and good for the community’.

London Power will offer a twelve-month fixed tariff which will fall within the cheapest 10% of similar tariffs to ensure prices are competitive. It is estimated that the average home in London could save around £300 a year by switching to the scheme.

Prepayment customers will also benefit from one of the three cheapest ‘top-up’ plans on the UK market.

Electricity supplied to customers will be matched with power which has been generated from renewable sources such as solar panels and wind turbines.

Sadiq Khan said: “It is a disgrace that many Londoners pay too much to heat and light their homes, with more than a million living in fuel poverty. That’s why I’ve launched London Power – to give all Londoners access to a better, fairer deal safe in the knowledge that they won’t be automatically switched to a rip-off tariff when their contract ends.

“London Power is a different kind of energy company. For the first time we have a fair, affordable, green energy company specially designed for Londoners.”

If you would like to read more about what the UK is doing to tackle climate change then you can follow Apollo Energy on Twitter to find the latest news.