London Power customer acquisition continues to stall

London Power is continuing to struggle to attract customers, with the latest figures showing it supplied just over 5,500 after more than a year in operation.

The Octopus Energy white label, which began supplying customers in December 2019, publishes quarterly updates on its progress.

After scaling back marketing plans due to the pandemic, the supplier said in its Q3 2020 update that it hoped its “renewed communication push” would attract more customers in the autumn.

Despite this however, customer numbers have only marginally increased. Less than 2,000 signed up between the end of September and the end of March when the company supplied just 5,521.

The company does however enjoy an ‘excellent’ rating on Trustpilot and is currently scored 4.8 out of 5 for customer service.

In January its customers were asked about their experience since joining the supplier and 95 per cent said they were satisfied, compared with the 76 per cent of customers average recorded in Ofgem’s Consumer Perceptions of the Energy Market survey.

Elsewhere the company claims to have saved customers £207 on average per year on its cheapest plan, as well as saving 1,120kg of Co2 per London Power household annually.

According to its latest financial results, the supplier made a loss of almost £1 million between 19 July 2019 to 31 March 2020.

A spokesperson for the Mayor of London said: “Since launching last January, London Power has delivered fair, affordable, green energy to over 5,500 London households and maintained excellent levels of customer service.

“In order to continue to grow and help even more Londoners benefit from affordable, green energy, London Power is working closely with London boroughs and housing associations to ensure that their residents and tenants are aware of what is on offer – fair prices, world-class customer service and 100 per cent renewable electricity.”