Energy supplier secures investment firm backing

Social Energy has secured investment from fund manager CarVal Investors to support expansion in the UK and internationally.

Insider Media

Price war pushes leading challenger Good Energy away from retail market

One of the country’s leading energy challengers is turning away from the household market to escape a “price war” that has left the sector littered with casualties. Good Energy, which supplies renewable energy to about 250,000 homes and firms, says it will instead focus on business clients and helping customers with renewable energy subsidies.

The Times | Login required

UK competition watchdog looking into OVO deal for SSE's retail arm

The UK Competition and Markets Authority (CMA) said on Thursday it was looking into whether OVO Energy’s 500 million pound ($646.00 million) deal to buy power company SSE Plc’s (SSE.L) retail arm will lessen competition in the United Kingdom. SSE’s retail energy business is one of the “Big Six” in the British market, supplying energy and related services to around 3.5 million household customers. The CMA said it was inviting comments on the deal from interested parties until a Nov. 6 deadline.

Reuters

Ofgem protects customers of failed supplier Toto Energy

Toto Energy, an energy supplier with around 134,000 domestic customers has ceased to trade.

Ofgem

Council lends £9.5 million to Robin Hood Energy

Nottingham City Council has agreed to lend Robin Hood Energy a further £9.5 million more to help pay its upcoming bill to energy regulator Ofgem.

West Bridgford Wire

Ovo takes stake in PPA platform Renewable Exchange

Ovo has taken a minority stake in Renewable Exchange, an online digital marketplace and insight platform for power purchase agreements (PPAs). Founded in 2016, Bristol-based Renewable Exchange connects sellers and buyers, serving 717 independent generators in the UK representing 1GW of installed capacity.

New Power

Scope of Ofgem’s Utility Warehouse investigation widens

Ofgem first opened an investigation in June last year (also the year when the company was awarded‘Utilities Provider of the Year’ at the 2018 Which? annual awards). It was in relation to services for customers in payment difficulties, their ability to pay and associated communications, including requirements for warrants for pre-payment meters. Now the regulator has widened its scope to include performance in relation to the company’s dealings with domestic customers and its reporting on social obligations.

New Power

Energy firm with thousands of Stoke-on-Trent customers ordered to pay £4.5m by Halloween - or face losing its licence

An energy firm which has thousands of customers in Stoke-on-Trent has been ordered to pay £4.5 million in 'green taxes'. Toto Energy Limited risks having its licence to supply energy revoked if it fails to pay the £4,555,880 by October 31.

Stoke on Trent Live

Robin Hood Energy has its financial guarantee extended by city council

The city council has increased the value of its financial guarantee for the energy company it owns. It essentially means the company can buy larger amounts of energy in bulk ahead of the winter period, when customers use more fuel.

Nottingham Post

Warrington Borough Council confirms 50% stake in Together Energy

As a result of the deal a new board of directors will be created for Together Energy. As well as this, 30 new jobs are set to be created in the Cheshire town.

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Shell Energy lands £10.5 million Green Star Energy acquisition deal

Shell Energy, which was known as First Utility until earlier this year when it was subject to a significant rebrand, has agreed a deal to pay £10.5 million for Hudson Energy Supply UK, a UK-facing entity belonging to Canada’s Just Energy Group which trades in the UK under the Green Star Energy brand.

Current News

Robin Hood Energy: Southend Council to join partnership

The council-operated Southend Energy is poised to enter into a five-year partnership with Robin Hood Energy, a firm owned and managed by Nottingham Council.

Echo News

Mayor announces ‘London Power’ – a new, fairer energy company

The Mayor of London, Sadiq Khan, today announced plans for a new, fair-priced, green energy company, available exclusively to Londoners from this December. London Power is a partnership between the Mayor and Octopus Energy, the only Which? Approved energy supplier in the UK. Any profits made by City Hall will be reinvested into community projects to help tackle fuel poverty and make London a zero-carbon city. Octopus Energy were chosen following a rigorous open procurement process conducted by City Hall and TfL.

Mayor of London

AGREEMENT TO SELL SSE ENERGY SERVICES TO OVO

SSE plc (“SSE”) has entered into an agreement to sell its SSE Energy Services business to OVO Energy Limited, a wholly owned subsidiary of OVO Group Limited, at an enterprise value of £500m comprising £400m cash and £100m in loan notes (the “Transaction”).

SSE

Warrington council buys £18m stake in Scottish energy firm

A council is set to spend £18m buying a 50% stake in the Scottish energy provider Together Energy. Warrington Borough Council leader Russ Bowden said the investment would help people living in fuel poverty and generate income for the authority. The council also plans to loan the firm £4m, if approval is granted next week.

BBC

Ofgem appoints Utilita Energy to take on customers of Eversmart Energy

Ofgem has appointed Utilita Energy Limited to take on supplying Eversmart Energy Limited’s domestic customers, and the small number of business customers. This follows an appointment process run by Ofgem to get the best deal possible for customers.

Ofgem

Ofgem protects customers of failed supplier Eversmart Energy

Eversmart Energy, an energy supplier with around 29,000 domestic customers and a very small number of business customers has ceased to trade. Under Ofgem’s safety net, the energy supply of Eversmart Energy’s customers will continue and prepayment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected.

Ofgem

Toto Energy to take on majority of Solarplicity customers

Around 43,000 of the firm's 60,000 customers will be automatically moved, and Solarplicity will carry on trading with a smaller customer base. But if you're not happy with the switch, you'll be able to leave penalty-free.

Money Saving Expert

Eversmart Expands into New Premises

MANCHESTER, UK — Manchester-based energy provider Eversmart Energy has completed a move into new premises in Trafford following expansion. The move sees the gas and electricity provider upscaling into new 5,600 sq ft offices on Chester Road and 6,000 sq ft warehousing space in Trafford Park, Manchester.

Agility PR

Energy switching site Labrador, founded by Jane Lucy, runs out of power

An energy switching start-up has gone bust, leaving hundreds of investors facing steep losses. Administrators from CBW have been appointed to Labrador, which promised to “keep energy suppliers honest” by automatically switching customers to cheaper deals based on smart meter readings. About 20 jobs are believed to be at risk, split between its London HQ and its customer service centre in Solihull.

The Times | Login required

Good Energy pushes harder into b2b market

Good Energy believes its growth will increasingly come from the business market, with energy services the future of its business model.

The Energyst

Jaguar Land Rover installs UK's largest 'smart' EV charging facility

Carmaker Jaguar Land Rover (JLR) has installed what it claims is the UK's largest "smart" charging facility for electric vehicles (EVs) at its Warwickshire engineering centre, after partnering with charging infrastructure firm NewMotion.

edie.net

Solarplicity denies SoLR rumours as it lets 27 meter installers go

Challenger supplier Solarplicity has denied rumours it is about to enter the supplier of last resort (SoLR) process but has confirmed it has let 27 of its meter installers go.

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Eon losing customers at an 'alarming rate' as frustrated customers complain energy giant is insisting on smart meters

Eon, one of the Big Six energy suppliers, is losing customers at an 'alarming rate', a new report claims. Of customers that switched provider last month, 21.65 per cent did so from Eon. On the flipside, just 7.07 per cent switched to it. This is a net swing of 14.58 per cent, a snapshot of customer switching habits from Compare the Market shows.

This is money

Robin Hood Energy wins multi-million pound contract to power Nottingham's tram network

NET operator, Nottingham Trams Ltd, which currently buys its energy from a 'Big Six' provider, has agreed a new deal which means from April 1 the company will buy "100 percent green electricity" from the city council-owned energy supplier.

Nottingham Post

'Stop harassing us on Facebook - and pay us £10,000': Outfox the Market's threat in battle with angry customers

Small energy supplier Outfox the Market, mired in serious service issues, is involved in a furious war of words with a band of former customers who have taken to social media to criticise the company

This is money

Ofgem appoints SSE to take on customers of Brilliant Energy

Ofgem has appointed SSE to take on supplying Brilliant Energy’s 17,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. SSE is offering Brilliant Energy’s customers, including those supplied under a ‘white label’ arrangement with Northumbria Energy, a competitive tariff.

Ofgem

Heat storage battery pioneer Sunamp signs major agreement with Chinese heating tank manufacturer

The Scottish company behind a ground-breaking heat storage battery has signed a memorandum of understanding with a Chinese firm to create a product for household uses.

Insider

Want a new power business? No problem – we’ve already set up 40

Utiligroup is one of the most prolific firms offering what it calls a “supplier in a box” service. It describes itself as the “go-to supplier when organisations want to break into the energy industry”.

The Times | Login required

OVO invests in energy tech start-up Electron

OVO has invested in energy technology firm Electron, teasing that it is the first in a series of strategic investments. The investment originates from OVO’s newly-formed tech development unit Kaluza which has its purpose in developing software and hardware solutions for OVO’s service suite.

Current News

Ofgem protects customers of failed supplier Brilliant Energy

Brilliant Energy Supply Limited, an energy supplier with about 17,000 domestic customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of Brilliant Energy’s customers, including those supplied under a ‘white label’ arrangement with Northumbria Energy, will continue and the outstanding credit balances of domestic customers will be protected.

Ofgem

Southend Energy to switch supplier

Southend Energy is planning to switch energy supplier and agree a new contract with Robin Hood Energy. There is an agreement in principle for the Robin Hood Energy to take over the operational running of the service sometime between July and September 2019, subject to agreeing a final deal.

Robin Hood Energy

Ofgem threatens Avro Energy with customer ban

Ofgem has threatened Avro Energy with a ban from taking on new customers if it has not signed up to a new smart meter wireless network by the end of May.

Energy Voice

Urgent call for Ofgem to step in after debt collectors contact 130,000 Spark Energy customers

Almost 130,000 Spark Energy customers have been contacted by debt collectors in the wake of its takeover by Ovo Energy, even though many have continued making normal payments and had no idea they owed any money.

MoneySavingExpert

Good Energy to acquire electric vehicle app Zap-Map

Good Energy has taken a 12.9% share in electric vehicle app Zap-Map’s parent company, with an option to take a majority share within two years.

New Power

London-based supplier Brilliant Energy enters credit default

Brilliant Energy has entered level two credit default according to balancing and settlement code administrator Elexon. Parties trading on the balancing mechanism are required to post sufficient collateral to cover their outstanding payments in case they go under.

Utility Week | Login required

Shell, Limejump and the need for a super-charged energy innovation trajectory

Shell’s addition of flexibility aggregator Limejump to its New Energies stable was yet another signal of intent that, when it comes to the energy transition, the O&G major is not messing around.

Current News

SSE pays out £705,000 to regulator Ofgem after misreporting £4m renewable energy payments

The company overstated payments in its Feed-in Tariff (FIT) submissions to low carbon generators because of an administrative error, the company said, causing it to receive the extra cash.

CityAM

RWE AG / E.ON SE merger inquiry

The CMA is investigating the proposed acquisition by RWE AG of a 16.67% minority stake in E.ON SE.

CMA

Shell continues clean energy spending spree with Limejump acquisition

Limejump confirmed the deal this afternoon, claiming that it stood to “super-charge” its business and enable Limejump’s technology and management to support the UK’s clean energy transition.

Current News

ScottishPower to spend £2bn in UK this year

From 2018 -2022, ScottishPower will spend £6bn in the UK with 40% on new renewable energy generation, 42% on smarter enhanced networks and 15% on innovative services and products for customers.

Energy Voice

Solarplicity ‘overdue’ accounts prompts industry concern

The accounts for challenger energy provider Solarplicity are listed as “overdue” on the Companies House website, prompting concerns the supplier is in difficulty.

Utility Week | Login required

Energy firm Solarplicity banned from taking on new customers

Energy supplier Solarplicity has been banned temporarily from taking on new customers due to its poor switching process and customer service.

BBC

Co-op Energy signs contract with Home Serve

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British Gas owner loses 742,000 customers and issues price cap warning

The owner of British Gas, Centrica, lost about three-quarters of a million customers last year and warned it will take a £300m hit from the government’s price cap on energy bills.

The Guardian

Energy services company Igloo raises over £600,000 on Seedrs

Having received £1m in research and development funding in August 2018 from BEIS and Innovate, Igloo set its funding target on Seedrs at £500,000. However due to high demand, the campaign has raised £606,918, from more than 512 investors across 26 countries.

UKTN

Centrica sets sights on domestic energy flexibility with new investments

Centrica Innovations, the business unit established two years ago to invest in cutting edge technologies, has today announced investments into home energy management solutions provider GreenCom Networks and smart hot water tech provider Mixergy.

Current News

A big warm welcome to Mitsui, our new investor!

We couldn’t be more thrilled to announce a major development in the life of Tonik Energy and our sister company The Phoenix Works - closing out our latest round of investment with a £13m cash injection. Break out the sustainably-grown champagne!

Tonik Energy

EDF Energy loses 200,000 UK customers in 2018

EDF Energy, one of Britain’s big six energy suppliers, lost 200,000 customers in 2018, French parent company EDF said in its group results on Friday.

Reuters

Mitsubishi buys 20% stake in clean energy challenger OVO Energy

Mitsubishi is to acquire a 20% stake in the Bristol-headquartered firm, the proceeds of which will be used to expand OVO’s presence into new markets across Europe and Asia Pacific.

Current News

Victory Energy is back on the cards after Labour and Tories vote together

At full council yesterday the unlikely association amended the budget set by its Liberal Democrat administration to demand the £2.5m that would be lost in the company’s closure become part of council spendings.

Portsmouth News

UK first: Bristol Energy trials 'heat as a service'

Government-backed trial means Bristol Energy is now offering households chance to buy a 'Heat Plan' tailored to their individual lifestyle

Business Green

EO Charging partners Bulb for UK’s ‘first fully open’ EV charging network

Plug In Suffolk, as the programme has been called, is said to be the country’s first fast charging network that allows EV drivers to charge simply through using contactless payments with no need to register or become a member of any organisation.

Current News

Sainsbury's Energy to close and switch customers to British Gas

Sainsbury's Energy has stopped taking on new customers and announced that existing customers will have their accounts switched to British Gas in April.

Money Saving Expert

Utilita picks up Our Power’s domestic customers

Ofgem has appointed Utilita Energy to take on Our Power’s 31,000 domestic customers under its ‘supplier of last resort’ process after the Scottish energy company ceased trading.

New Power

New energy provider launched by Barking and Dagenham Council

Beam Energy, which was launched at Eastbury School in Barking yesterday, is completely green and uses electricity generated by wind turbines and solar panels.

Time 1075

Robin Hood Energy applies for overdraft as city council pledges to cover latest debt

The company, which is run on a not-for-profit basis, said it had decided to get an overdraft with its bank "to improve cash-flow", and this required the council - as its parent company - to be guaranteed by the council. It is not known how much the overdraft is worth.

Nottingham Post

Solarplicity subject to 1,000 complaint investigations in 2018

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Energy firm Eversmart halts tariff seeking up to £1,000 in advance

An energy supplier that encouraged households to pay for a year’s usage upfront and marketed the tariff like a financial savings product has suspended the offering after The Times reported concerns.

The Times | Login required

So Energy announces partnership with home repair service

Utility Week | Login required

Bulb energy company targets one million customers as it takes on the ‘big six’

Small energy company Bulb aims to sign up a million customers in 2019, and has its sights on overtaking one of the “big six” energy providers in the next five years, according to the firm’s founder.

iNews

Robin Hood Energy given £5.5m Nottingham City Council loan

The energy company owned by the city council has been given an extra £5.5 million loan by the council. Robin Hood Energy (RHE) says it has seen a significant increase in customers in recent weeks, and needs the additional funding in order to ‘future-purchase’ energy.

Nottingham Post

Verv lands innogy backing to fund global expansion

Energy giant innogy’s International Middle East (IME) division has invested £500,000 in UK energy tech start-up Verv. London-based Verv has developed an artificial intelligence and blobkchain-enabled smart home hub, which can link to other devices in the home and, ultimately, enable peer-to-peer trading between neighbouring homes.

Current News

Eversmart Energy’s advance payment tariff sparks warning from Citizens Advice

Britain’s leading consumer charity has sounded the alarm after a small energy supplier began taking advance payments of about £1,000 per customer and marketing its tari???? like a financial savings product.

The Times | Login required

Duracell partners with Social Energy to launch new UK-based utility

Social Energy is the newest player to arrive on the United Kingdom’s electricity and gas utility scene. It launched last night at an event in London’s city center.

PV Magazine

Portsmouth council confirms closure of Victory Energy

A city council has stood by a decision to close its own energy company. Portsmouth City Council's previous Conservative administration approved the contract to set up Victory Energy, but it was yet to go into operation.

BBC

OVO takes on Spark Energy’s customers

We are pleased to announce that Ofgem has appointed OVO Energy to take over Spark Energy's 290,000 customer accounts. Through the purchase of the operating company we can ensure that Spark Energy will continue to serve customers through its existing team, with minimal disruption to service.

OVO

Spark Energy Supply ceases trading

An energy supply company with almost 300,000 customers has ceased trading. Spark Energy Supply is part of a gas and electricity firm which employs more than 300 staff at its Selkirk headquarters.

BBC

Bristol Energy has selected Eliq to deliver a mobile app solution, to enable its customers to benefit from the full value of its smart metering programme.

Bristol Energy is aiming to be at the forefront of smart metering and digital utilities services, having recently signed a contract with Eliq to deliver cutting-edge mobile customer engagement apps, which will help Bristol Energy’s customers to leverage the value of smart meters. The mobile apps will help customers manage their account, access Smart and real-time data, whilst also providing Bristol Energy with a platform for future energy services.

Eliq

MONEYPLUS EXPANDS INTO ENERGY WITH E3CREATIVE

Financial service provider MoneyPlus Group have appointed e3creative to strategise, design and build an enterprise digital platform as they enter the energy sector.

E3 Creative

POWZA

Our energy industry was built to keep the lights on, but consumer and environmental needs have become more complex. Powza is the design thinking approach to energy. It considers human needs and behaviours, the way energy works and new innovations to deliver a smart, sustainable and inclusive approach to energy. Powza is designed around the needs of millennials and Generation K.

toeleven

Bulb Energy hikes bills for third time this year

The Independent

Octopus Energy picks up 22,000 more customers with Affect Energy deal

Octopus Energy has secured 22,000 additional customers after completing the purchase of Affect Energy on Friday last week for an undisclosed, seven-figure sum.

Current News

The heat is on for fans of publicly owned energy companies

Jeremy Corbyn and Nicola Sturgeon may be big fans, but the rise of publicly owned energy companies looks like it is faltering in the face of tough market conditions.

The Guardian

Bulb lands £60 million investment to strengthen energy tech team

The company has received investment from DST Global and Magnetar, two established international investors, with the funding set to be used to recruit additional engineers and energy experts to strengthen its customer offering.

Current News

Portsmouth council drops own Victory Energy firm

A city council has voted to drop its own energy company at a cost of up to £3.5m. Liberal Democrat-run Portsmouth City Council made the decision at a special cabinet meeting.

BBC

The entrepreneur who started his first business at 18 and now runs a £30m energy company

Barney Cook started his first business straight out of school. He now owns Eversmart Energy, a £30m business and plans to take on the Big Six

MEN

Flow Energy sale chance to 'grow co-operative movement in energy'

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UK Web Media and Energy Helpline to Merge as ‘Super-Comparison’ Site

Backed by a private equity firm, the two comparison specialists will join to become Comparison Technologies, uniting a portfolio of sites to cover energy, broadband, TV and mobile phone providers as competition in the supplier space continues to heat up.

PerformanceIN

Bulb: The Bright Startup That's Shaking Up Britain's £54bn Energy Market

Forbes

Renewable Energy Supplier Bulb raises £5.7m Equity

ClearlySo

Ofgem protects Future Energy customers' supplies and credit balances

Future Energy, a regional energy supplier with about 10,000 domestic customers mainly in the north east and Yorkshire, has ceased trading.

Ofgem

‘Socially conscious supplier’ Brighter World Energy cites unsustainable market for closure

Independent energy supplier Brighter World Energy (BWE) has closed its doors, claiming current market conditions are not conducive to a sustainable business model.

Current News

London gets 'first not-for-profit energy provider in more than 100 years'

A north London council claims to have launched the capital's first not-for-profit local energy provider in more than a century, saying the new scheme will help the poorest families. Islington Council – which is controlled by Labour – has invested £100,000 in setting up and marketing the company, called Angelic Energy.

The Independent

Acasa is building a platform for ‘Generation Rent’ to manage their homes

TechCrunch

The little Welsh start-up that's hoping to take on the big energy companies

A Welsh start-up is hoping to take on the big energy companies and become one of Wales’ leading energy suppliers. Independent energy supplier One Wales Energy - Un Ynni Cymru - is launching a new crowdfunding campaign for individual investors as it begins preparing for its initial ’switch on’.

Wales Online

The energy market? It's simple economics says 22-year-old Avro boss

The 22-year-old believed to be Britain’s youngest energy boss has insisted that navigating gas and power markets is “simple economics”, amid rising fears over the financial health of start-up suppliers.

Telegraph | Login required

Brighter World Energy Raises £500,000 in Seed Capital to Provide Solar Energy to Africa

Manchester, United Kingdom – Brighter World Energy, a new socially conscious energy company launching in the United Kingdom, announced today that it has completed a £500,000 seed capital round with the help of ClearlySo, Europe’s leading impact investment bank. Brighter World Energy plans to use the funding to ensure consumer power tackles the global energy crisis.

Clearly so