GB Energy Supply is a new company that aims to cut energy costs for its customers by running a highly efficient business and keeping our own costs low. SME caught up with MD Luke Watson to find out more about the sector…
Who are your biggest competitors?
The market is growing all the time and is much bigger now than even just 12 months ago. We’re competing with the big independents, but clearly the big 6 still dominate the market. 90% of British households are customers of one of the big 6, despite the fact they don’t offer the best deals - 70% of people are languishing on their expensive standard tariffs.
That tells me we’re also competing with apathy to switching. The difference with GBES is that we make it really easy to switch as we deal directly with people rather than through a comparison site. Once you’re a customer we are clear and transparent from the start. We reduce direct debit payments in the summer so people don’t build up credit, we never charge exit fees and we’re committed to offering consistently good value. We never offer a low headline rate to attract people in a short burst, which often results in those people receiving a bad service experience.
Tell me about your clients – who purchases your products?
Our energy tariffs are available to home and business owners across Great Britain. With over 100,000 customers already switched to us, we’ve saved them in excess of £14,000,000.