A new boiler for free plus cheap gas and electricity sounds too be good to be true, but that is what Energetix, a small company quoted on the Alternative Investment Market, intends to offer.
Every year, 1.5 million new boilers are installed in Britain, each costing an average of about £2,000. Most of these are emergency purchases and are a burden on cash-strapped homeowners.
Energetix will offer customers free boilers provided they sign up for five years’ dual-fuel supply of gas and electricity, which are guaranteed to be cheaper than supplies from the top six main providers – British Gas, EDF, Eon, Npower, ScottishPower and SSE.
The deal is made possible because Energetix has designed a boiler that generates electricity whenever it is used for central heating or hot water. For the average home, this means about half its annual electricity will be generated, effectively for free.
Energetix will use that saving to help pay for the cost of the boiler over five years.
The idea has won support at the highest level. The company is chaired by Clare Spottiswoode, one of the best-respected people in the energy industry and former head of the old gas regulator, Ofgas.
Energetix’s chief executive is founder Adrian Hutchings, who has spent more than a decade building up the business. He is to become deputy chairman and last month, Peter Richardson, chief operating officer of vacuum cleaner maker Dyson, was appointed as the new chief executive.
http://www.thisismoney.co.uk/money/investing/article-2170211/MIDAS-Will-free-boiler-power-heat-Energetix-shares.html
