The company is owned by local business people with long experience in the renewable electricity industry.The next largest suppliers are SSE with about 16% of connections and Budget Energy with about 12%.Share Energy is so-named because it intends to operate a profit sharing arrangement with its customers when it becomes profitable.
It will determine a shareable profit based on its audited accounts which will be shared equally between the company and its customers. The amount paid to each customer will depend on how much electricity they have used during that financial year. Keypad customers will get their payment as a code to add credit to their meter while non-keypad customers will have a credit applied to their account.Chief Executive Damian Wilson said: ‘We believe our profit-sharing model will transform the market here, whilst also underlining our commitment to fairness, transparency, and value.’Budget has been the most successful of the local electricity supply start ups and was sold to the Dublin-based DCC group in 2020.
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