A new electricity supplier, Share Energy, is set to enter the Northern Ireland market, introducing a profit-sharing plan for both domestic and commercial customers.
The company, led by former Budget Energy director Damian Wilson, aims to offer the lowest standard rate to consumers in the region.
Share Energy is joining the market at a time when Electric Ireland recently announced its decision to withdraw following a business review.
Share Energy intends to operate a profit-sharing model.
When the company becomes profitable, 50% of its audited profits will be shared with its customers based on their electricity usage over the financial year.
Keypad customers will receive their share as a credit code for their meter, while non-keypad customers will have the credit applied directly to their account.
