Eon, one of the United Kingdom’s biggest energy suppliers, has switched all of its 3.3 million customers to renewable energy supply. They are charging no extra money to their customers for the switch. The reason for Eon’s switch is so they can compete with smaller energy companies that offer renewable energy at lower costs. This is yet more evidence market pressure is beginning to make a difference in the switch to sustainable power sources. As mentioned previously in this blog, the economic argument for renewable energy is beginning to come into play, as components for infrastructure become less expensive due to high demand and economies of scale.
These market forces are even more potent in the U.K., which has a population about one-fifth the size of the U.S. and thus a smaller target to reach with 100% renewables. U.K. power companies compete for customers, much like cable and internet companies in the United States.
Find out more from Bloomberg here.