Davey’s community energy firm to launch supply business

Community energy investment company Mongoose Energy, chaired by former energy minister Ed Davey, has announced plans to launch a supply business this year.

The community-owned supply company will be the first of its kind, and aims to announce its launch tariffs during Q3 2016.

Mongoose Energy chief executive Jan Willem Bode said: “This is a first for a UK energy company and, with the majority of our profits going back into the community groups, I believe this has the potential to transform the nature of energy ownership in the UK.”

Launched in 2015, Mongoose currently has 34MW of capacity under management services and a further 30MW of capacity in the pipeline.

Bath and West Community Energy chair and founder of Mongoose Peter Capener said: “The rise of community energy means that energy generation can be used to bring about positive social change and Mongoose groups are all signed up to this philosophy.

“We see this as the future for the UK, with profits being retained within the community to re-invest in socially and environmentally beneficial projects that meet community needs.”

Since leaving office, Davey has been outspoken in his support for community energy, telling a recent gathering of investors it will “weather the storm” of political uncertainty.