Wyre energy specialist eyes £100m target

Luke Watson, from Preesall,  outside the GB Energy premises on Garstang Road, Broughton
Luke Watson, from Preesall, outside the GB Energy premises on Garstang Road, Broughton
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A Wyre businessman’s company is celebrating a busy first year in business as its turnover nears the £100m mark.

GB Energy Supply was founded by Luke Watson in January last year.

He started out with the aim of offering household energy tariffs at far cheaper rates than those offered by the Big Six.

It now has more than 135,000 customers throughout Great Britain.

Luke said: “After launching last January we spent a few months putting in the ground work, and by April we started regularly offering some of the best value energy prices in the country.

“In October we became the first energy provider in over four years to offer a tariff below the £800 mark, setting the standard for the rest of the sector to follow.

“Now our fixed tariff is £755, over £300 cheaper than the standard variable Bix Six tariff.”

He said GB Energy Supply had saved British households around £22m in total.

He said: “The reason we’re able to offer exactly the same energy for a much cheaper price is because we keep our business model lean, unlike many other players in the market.

“We don’t waste money on expensive marketing campaigns, sponsorships or by paying money to price comparison sites that don’t always give people a true view of market; we prefer to pass savings onto our customers, helping them to save money and supporting those who find the cost of energy a real challenge.”

Although GB Energy is now offering energy tariffs throughout the country, for Luke the business’s local roots – and his own – are still important. He said: “I’m from Preesall originally and have always lived locally.

“We’re proud of the fact that local customers throughout the North West have driven our growth. People from Lancashire are no-nonsense people, and they realise a good deal when they see it.”

As GB Energy Supply’s development has accelerated, the firm has now moved to new offices in Broughton and plans to step up its development over the next year by addressing fuel poverty for individuals and looking at tariff for businesses.