PRIVATE INVESTORS SOUGHT BY NEW PENARTH-BASED ENERGY COMPANY

The logo of the new energy company being launched to pontetial investors in Penarth next week – One Energy Wales.

A new  Penarth-based ‘independent’ energy company “One Wales Energy” – which aims to supply electricity and gas to customers across Wales – is hoping to attract share-investment from private investors in the town.

The firm has been set up by two entrepreneurs Jude Cook and Jon Townend – and the company has set itself the the ambitious – not to say challenging – aim of capturing 10% of the energy market in Wales by 2023.

Taking the plunge -the two co-founders of One Energy Wales –  Jude Cook and John Townend

Ms Cook and Mr Townend have already raised the initial start-up capital required, they have the necessary OFGEM licence – permitting them to market energy in Wales, England and Scotland – and they’re now hoping to raise a further £700,000 from local shareholders prior to launching in 2018.

They say One Wales Energy willoffer customers competitive tariffs, no-hassle switching and a Wales-based bilingual customer contact centre”. 

One Wales Energy  is being described as aprofit with purpose” business – meaning it will be a “conventional profit-making business” but will also have a “commitment to supporting social and environmental benefits across Wales.” 

It proposes to pay organisations who persuade people to sign-up as customers “referral and retention fees” .

One Wales Energy Ltd was originally called Hyde Park Energy but changed its name in May and now has its registered office in Bridgend. However the holding company – One Wales Energy Holdings Ltd – is based at  53 Althorp Drive, Penarth.

Jude Cook claims that most of the money customers currently spend on energy leaves Wales because there’s no indigenous Welsh power company [ SWALEC is now just a trading name of Scottish and Southern Electricity; MANWEB  was taken over ultimately by the Spanish utility company IBERDROLA and WALES GAS  was merged into British Gas when it was denationalised].  

Jon Townend says One Wales Energy will offer “an opportunity for the people of Wales to become their own energy supplier”

Evenlode Primary School Penarth – location of the first of One Energy Wales‘s investor sessions

The firm is to hold an investor session at Evenlode Primary School on July 10th at 19:00.

There will be further sessions on 11th July at 19:00 at Cardiff Golf Club, Cyncoed, Cardiff and on 13th July at 19:00 at the Chapter Arts Centre, Canton, Cardiff.

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Penarth Daily News email address dmj@newsnet.uk . Penarth Daily News is an independent free on-line fair and balanced news service published by NewsNet Ltd covering the town of Penarth in the Vale of Glamorgan, Wales, UK. All our news items are based on the information we receive or discover at the time of publication and are published on the basis that they are accurate to the best of our knowledge and belief at that time. Comments posted on the site by commentators reflect their opinions and are not necessarily shared, endorsed or supported by Penarth Daily News.
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8 Responses to PRIVATE INVESTORS SOUGHT BY NEW PENARTH-BASED ENERGY COMPANY

  1. Chris David says:

    Have they contact details available? Investor sessions are only an intro.

    • Thank-you for your comment. You can contact us via our website http://www.onewalesenergy.co.uk by email: info@onewalesenergy.co.uk or call us: 01656 502061. Both founders will be at the intro events giving a short presentation, answering questions and available to speak to anyone one-to-one.

      There are basic details about the business and crowdfunding available online, full details of the crowdfunding will be there from tomorrow when it launches for 30 days.

      Best regards.

  2. Peter Church says:

    This is a bit like the Welsh and English butter in the supermarkets. I only want Welsh Gas and Electricity in my home, not that foreign English stuff.
    Independent energy companies are a risk, you don’t lose directly but we all end up footing the bill through a tariff on everyone’s bill.
    The only ones who really win are the ones who set them up.

    The margins are very tight, roughly 6% and this doesn’t leave much room, granted very high turnover but hard to manage the risk unless you have very deep pockets.

    Try telling your local coffee shop that they will be regulated if they charge more than a 6% margin!

    https://www.ft.com/content/4b297a0c-b887-11e6-ba85-95d1533d9a62?mhq5j=e1

  3. Chris David says:

    Perhaps Mr Church one could study economies of scale, natural resource marketing and geographical neutral intangibles! So- any contact details anyone? Ta.

    • Peter Church says:

      Let me just put that through Google Translate:

      Source Language: Business waffle
      “natural resource marketing and geographical neutral intangibles”

      Output Language: English
      “snake oil”

      🙂

      • Chris David says:

        Not quite Mr Church- but as you were sprouting barrack room rowlocks I bunged in some pure made up gobbledygook and yes- I said to Mycroft you’d miss the irony hah. Oh the economies of scale stuff was serious though as you clearly don’t understand real margins or how they can be arrived at. Come back when you have less time. Possibly Brainiac- K Luke here is making more sense than you with her fan dabi thingy. Interesting point Mr O’Daft.

    • Karen Luke says:

      You two are like the Krankies, symbols of the embarrassing 80s. It’s fan dabi dozi!

  4. Daft o dull says:

    Not sure they quite understand the law when it comes to making a public offering for investment!

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