A COUNCIL owned energy company will soon come into being for the first time in more than 60 years.

Southend Council has signed an agreement with energy supplier OVO Energy to provide competitive tariffs to residents and businesses in the borough looking for a local alternative to their present supplier.

When the as-yet unnamed company goes into operation, it will be the first time the council has had its own energy company since the former County Borough Corporation was disbanded in the late 1940s when the Government nationalised all gas and electricity companies.

Economic development councillor Graham Longley said: “What we’ll be offering is attractive energy tariffs, fair contracts and a means of keeping local money in the local economy.

“Our decision to partner with OVO is also reinforced by the supplier recently becoming the first Which? Recommended Provider for energy.

“There’s a huge opportunity to save money by switching energy suppliers.

“Indeed, the most recent Essex Big Energy Switch resulted in participants saving an average of £260 on their energy bill in a single year (figures from the Essex Big Switch). 

“With the new energy company, not only will all local residents and businesses benefit from a competitive deal, but some of their energy bill will be reinvested in local public services at a time of extensive belt-tightening for local authorities.

“What’s more, we’ll be able to make decisions about how some of the income could be used to support the fuel poor at a local level.”

OVO’s Craig Morley added: “We are excited to be working with a council that has such a clear vision for their community and the difference they can help make to their residents.

“We will be working with key community representatives throughout Southend to ensure we are getting to speak to those customers that will most benefit from the new tariff.

“With no exit fees and considerable savings expected, we hope Southend residents really get behind this new energy offering.”