PFP Energy Review
New energy supplier backed by a major property group
PFP Energy (previously called places for people energy) is a new energy supplier which began taking on customers from October 2015. Like many of the growing number of new energy suppliers that have entered the market recently, PFP Energy is still very much an unproven entity. However, so far they have made a promising start and, with the backing of a major property group, they should be able to withstand the volatility in the energy market for a while at least.
You can switch to PFP Energy right here on this site. It only takes 5 minutes, it is secured by SSL encryption, it doesn't cost you anything and you will get exactly the same deals as you would from the supplier directly. However, using us means that you have the added benefit of support in the event that there is an issue with your application.
PFP Energy Description
PFP Energy (previously called places for people energy) is a new energy supplier which began taking on customers from October 2015.
Through a complex web of companies, PFP Energy is ultimately owned, funded and controlled by Places for People Group Limited.
Places for People Group Limited is a leading property management, property development, regeneration and leisure company. The company owns or manages over 150,000 properties and runs 116 leisure facilities. It typically builds in excess of 1,000 new homes each year. It's property management is the bulk of the business with social housing representing around half of the group's activities.
The group's overall business is sizeable, generating £45m of pre-tax profits on revenues of over £600m. It has gross assets of over £3bn and nets assets of £280m.
The group claims to be not for dividend with a strong social purpose. To be honest, we have no idea what that actually means although they claim it allows them to re-invest any financial surplus back into the business.
The highest paid director earned £530,000 in 2015/2016.
PFP Energy claims that it is different because of its simplicity...
"We're very straightforward to deal with."
"We've worked really hard to make sure it's easy to understand your bills and manage your energy account."
"We calculate bills every single month to help you stay up-to-date. So that your bills are accurate and you can stay on top of your energy costs, we will ask you to provide monthly meter readings."
"We keep our costs down - and where we save, you save."
"With us you'll get simple tariffs, simple bills and a simple online account to manage your energy."
Will that make them sufficiently different from the other 20 energy suppliers claiming the same? Time will tell.
More about Places for People Energy
The Company operates from offices in Preston, Lancashire.
PFP Energy offers a range of tariffs for customers who want to pay by Monthly Direct Debit.
PFP Energy offers a choice of online (paperless) and offline (paper) billing options.
places for people energy offers gas only and electricity only tariffs as well as dual fuel tariffs.
PFP Energy does not supply prepayment meter customers at the current time.
PFP Energy is not signed up to the Warm Home Discount Scheme.
Our service rating is based on the proportion of switches undertaken on the TheEnergyShop.com energy price comparison and energy switching platform that complete successfully first time around. As we do not deal with PFP Energy for energy switching we have no direct insights into how good or bad their processes are. As such we have not awarded PFP Energy a service rating. Please note that this does not mean that they are poor but, if you are switching to them, you are advised to do your own due diligence.
To compare energy suppliers including PFP Energy start here...it takes just a couple of minutes
Energy Switch Guarantee
PFP Energy is not signed up to the Energy Switch Guarantee.
Company Overview / History
|Company name||PFP ENERGY LIMITED
previously PLACES FOR PEOPLE ENERGY LIMITED
|Registered Office Address||Unit 2 Edward Vii Quay, |
Preston, PR2 2YF
|Date of incorporation||14 April 2014|
|Directors (2)||GUPTA, Anuj|
|THOMASSON, John Elliott|
|Company Secretary||MARTIN, C|
|Supply licence(s) granted||29 January 2015 (Gas supply)|
|9 January 2015 (Electricity supply)|
|Began selling energy to consumers||October 2015|
PFP ENERGY LIMITED is a wholly owned subsidiary PLACES FOR PEOPLE VENTURES OPERATIONS LIMITED (Company number 08740397 - incorporated on 21 October 2013).
PLACES FOR PEOPLE VENTURES OPERATIONS LIMITED is in turn, a subsidiary of PLACES FOR PEOPLE VENTURES LIMITED (Company number 09925149- incorporated on 21 December 2015).
PLACES FOR PEOPLE VENTURES LIMITED is a subsidiary of PLACES FOR PEOPLE GROUP LIMITED (Company number 03777037- incorporated on 20 May 1999).
PLACES FOR PEOPLE GROUP LIMITED is the ultimate controlling entity.
Wow. That was complicated...
Fuel Mix Disclosure
All suppliers, including PFP Energy, are required to provide information about the mix of fuels they use to generate the electricity they supply to their customers. They also need to disclose the environmental impact of this fuel mix.
This information is known as the Fuel Mix Disclosure and is published annually.
PFP Energy has not yet published its fuel mix disclosure so we are unable to review it here.
In this section we review the published financial results for PFP Energy Limited.
|Year ended||31 March 2016|
|Income Statement (£ 000's)|
|Profit before tax||(1,536)|
|Balance Sheet (£ 000's)|
|Net current assets||(710)|
|Capital and Reserves (£ 000's)|
|Profit and loss account||(1,527)|
Source: Companies House
Although PFP Energy recorded a loss in its first year of operations, and as a result has negative net assets, the group is funded by its ultimate parent company PLACES FOR PEOPLE GROUP LIMITED which has provided an undertaking that it will continue to make funds available to the company for at least 12 months from 15 September 2016. Given the substantial financial resources of the parent Company we therefore see limited financial risk to customers until at least 15 September 2017.
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