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Entrepreneur launches Newcastle-based energy supply company sparking the creation of 20 new jobs

Newly established Future Energy, has launched in Newcastle, employing a business model tailored to challenging the ‘Big Six’ energy companies head on.

The energy supply company will be open for business in July at premises on Amethyst Road, Newcastle Business Park, where it will initially create about 20 new jobs.

The brainchild of North East entrepreneur Tim Cantle-Jones, 54, Future Energy sets its stall as offering transparent and fair pricing, whilst making bills easy to understand. Moreover, the company promises to save households up to £300 a year.

Tim sees challenging the inefficiencies of those leading the energy market as key to Future Energy’s success. He said: “They have systems in place that are bloated and inefficient, whereas we will be a lean and efficient operation with low overheads.

“Our research shows that the average household in our region is paying as much as ten to 15 per cent more than it should for its gas and electricity.”

Next year, Future Energy plans to supply its customers with so-called smart meters, enabling users to know, at all times, how much power they are using and what it is costing them.

In addition, the company is set to be the first power supply company based in the North East since Northern Electric.

Aiming to have six to eight thousand households signed up by the end of November, Future Energy marks the culmination of three years’ development work, prior to which Tim was involved in the delivery of neighbourhood energy-saving schemes and low-energy lighting solutions.

Tim added: “Our target is to sign up 1,000 customers a month in the first instance and we believe this is achievable. We hope to have signed up 80,000 to 100,000 customers in the region within three years.

“This will be a local company for local people and a percentage of all profits will be ploughed back into local charities,” said Tim, who brings to bear experience gained in a variety of entrepreneurial roles in the North East and nationally throughout his career.”

Future Energy’s official launch takes place tonight (June 4) from 5.30pm to 7pm at the Institute of Mining Welfare, on Westgate Road, Newcastle.

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