SSE has confirmed it is in talks with Ovo as the big six supplier attempts to exit domestic energy retail. The company has been seeking buyers for its domestic retail book since merger talks with Npower owner Innogy collapsed last December. Following speculation, the firm issued a statement over the weekend: “SSE is actively progressing Read more…

Npower posted an €81m (£75m) operating loss for the first half. The retailer shed 238,000 customers versus the first half 2018. Parent company Innogy said competitive pressure and that the domestic price cap were the main factors in the negative result with the UK market environment “persistently difficult”. Earlier this year Innogy announced plans to Read more…

Haven Power outlines ways businesses can navigate the changing energy landscape in this sponsored post – and offers a free report produced with Cornwall Insight. The energy landscape is changing – and your business can benefit. Cornwall Insight’s report identifies five transformations with the potential to help you save money and increase revenue. Download the Read more…

Inspired Energy has paid £5m for a 40 per cent stake in Ignite Energy and has a two-year option to acquire the remainder of the company. The deal sees Inspired bring clients including Halford’s, SSP, Network Rail and WH Smith into its portfolio. The third party intermediary said Ignite’s specialism in energy efficiency projects and Read more…

Centrica has confirmed it will exit oil and gas exploration and production and that CEO Ian Conn will step down next year. The group posted a statutory operating loss of £446m in H1 2019 compared to a statutory profit of £704m in H1 2018. Adjusted operating profit collapsed by 49 per cent to £399m. The Read more…

Energi Mine is working on plans to launch “a global energy exchange that enables peer-to-peer trading” underpinned by blockchain. Chief executive Omar Rahim, a former energy trader with Engie, SSE and Vattenfall, says Energi Mine is building “an AI-driven marketplace where trades can occur between two parties”. He says the aim is to match business-to-business Read more…

Octopus Energy for Business plans to quadruple its customer base in the next couple of years. Director Zoisa Walton thinks creating products for business verticals will help power growth. The company has just launched a new tariff for vertical farmers – companies developing novel agricultural methods, and who tend to grow indoors (Bristol-based Lettus Grow Read more…

Viridor plans to build a new plastics recycling plant and more energy parks as the energy from waste (EfW) business continues to drive profit at Pennon. Posting annual results, the company said the plastics processing facility would be co-located with its new Avonmouth EfW, using heat and energy offtakes. The company believes creating energy parks Read more…

Business energy and water supplier Yü Group said it will grow at a slower pace after suffering the affects of rapid expansion without sufficient checks and balances. The company posted a net loss of £6.3m for full year 2018 and restated 2017 profit to £0.7m as a result of serious accounting issues discovered last year Read more…

Yü Group’s share price climbed 66 per cent in early trading on news that the Financial Conduct Authority has discontinued its investigation into the company and does not intend to take action. The business energy and water supplier revealed a hole in accounts last October related to revenue it had booked but that was not Read more…

Green Energy Consulting outlines its work for UK clients – and it’s planned expansion into Europe in this sponsored post. Green Energy Consulting is a well-established, leading consultancy specialising in renewable energy and sustainability. The company was established in 2012 by our two directors in one of Gateshead’s redeveloped railway arches. Since then we have Read more…

After a period of relatively low commodity costs, we have started to see wholesale costs rise again in recent weeks. In an ever-changing market, will a fixed or a flexible approach deliver the best results for businesses, asks Inenco in this sponsored post In 2018, commodity costs peaked at prices we hadn’t seen for almost Read more…

Martyn Young, co-founder and Procurement Director of ZTP, the strategic energy software and management consultancy, outlines some interesting changes in the energy market – and their impact on businesses The past 12 months has proved a challenging time for energy managers in controlling budgets with the market cost of Summer 2019 Power peaking in September Read more…

In 2018, energy managers faced pressure on both sides of their bills as both commodity and non-commodity costs pushed their energy bills higher. Now, we’ve started to see commodity costs fall – and Inenco is encouraging all businesses to take the opportunity to optimise their procurement strategy. Last year, volatility returned to the wholesale market, Read more…

Nicola Lovett has been appointed CEO of Engie’s UK & Ireland business as of 1 May. Current CEO Wilfrid Petrie will join the group’s executive committee in Paris and lead development of its French B2B business. Lovett joined the firm in 2013. She was most recently divisional CEO for Business Energy and Services. She said Read more…

Third party intermediary Monarch Partnership is set to acquire Energy Intelligence Centre, formerly the corporate division of failed TPI Utilitywise, according to people familiar with the matter. Terms of the deal have not yet been disclosed. Neither company immediately responded to request for comment. However, some EIC clients have been informed of the move. (Story updated, Read more…

ZTP, the strategic energy software and management consultancy, recently launched its new platform, Kiveev, which has been designed to digitalise the procurement and management of flexible power and gas contracts, providing users with enhanced clarity of position, risk mitigation, time saving and budget control.  ZTP spotted a gap in the market whereby many domestic and Read more…