A COUPLE have become so fed up with rising energy prices that they are attempting to set up their own energy company through crowdfunding.

David Pike and Karin Sode are attempting to form the new company, which they hope to launch later this year.

Our Energy promises to not only give 75 per cent of profits back to customers but customers will also be represented on the board of directors.

The couple, who live in Gullane, plan for the company to share salaries, decisions, accounts and prices with customers, becoming the first completely transparent and customer-focused UK energy company.

David, who originally trained as an engineer and in recent years has provided leadership consultancy to the power generation and network sectors, told the Courier the idea came about after growing frustrated with the major suppliers.

He said: “Like most UK energy consumers, Karin and I have had bad experiences when dealing with the big energy firms. People in the UK have quite rightly lost trust in their energy suppliers.

“Why should we all pay higher prices just to line a shareholder’s pocket?

“We want to bring democracy and transparency to the UK’s energy market.

“Our customers will enjoy the profits and after three years will own the company. They will never have to switch supplier again, as they’ll own the company and have complete trust in its practices.”

The couple plan to raise £450,000 and have already collected more than £98,000 towards the scheme.

Karin added: “Energy comes from natural resources that should belong to us all, not private entities. We are absolutely passionate about returning ownership of this natural resource to consumers.

“We are crowdfunding for Our Energy because we don’t want private shareholders we need to answer to: our customers will be our shareholders.”

The duo, supported by a team of finance and business specialists, raised over £18,000 on crowdfunder in autumn 2016; the British public’s enthusiasm meant they smashed their £10,000 target by the deadline.

The current drive to crowdfund over £450,000 will secure Our Energy’s future and ensure it becomes operational and open to customers in 2017.

David added: “The big energy companies won’t change their tactics anytime soon. Let’s make 2017 the year when their reign over the UK energy market, and exploitation of its consumers, came to an end.”

Consumers can secure their place as future owners of their own energy company by donating at www.crowdfunder.co.uk/ourenergy