Business energy supplier Yü Group has appointed PWC and DLA Piper to support a “forensic review” of business and accounts. The company last month announced it had discovered a hole in its accounts that sent share prices tumbling from 595p to a low of 86p. The company’s share price has since partially recovered, though dipped Read more…

In this sponsored post, Gazprom invites energy and procurement managers to an event in Manchester to learn from industry experts, network with peers and enjoy dinner at El Gato Negro. Gazprom Energy is delighted to invite you to Energise – our exclusive energy event for procurement and energy professionals. Join us on Thursday 15 November at our brand Read more…

Inenco, one of the UK’s largest third party intermediaries, has hired Richard Harrison as chief executive. He replaces Gary Stokes. Harrison was CEO of boiler installer Help Link until May this year, following its integration into Homeserve, which bought the business in 2017. He has held senior positions at reputation.com (as managing director) and webuyanycar.com Read more…

Large and medium sized companies in the UK have paid more for their electricity this year than any other EU 15 nation, according to latest government figures. Figures for a year earlier show medium sized firms in Germany and Italy were paying more, but that has since changed. Data for the six months to June Read more…

Business energy supplier Yü Group has revealed a hole in its accounts that will lead it to post a loss for the current year. Its share price plunged 80% on the news. Last month Yü posted 57% year-on-year profit increase for the six months to 30 June. Revenue increased 73%. Adjusted profit before tax stood at Read more…

Andy Skelton has been appointed as chief financial officer at Drax. His role will commence 2 January. Drax, which owns the UK’s largest coal and biomass power station, had sought a new CFO since Dorothy Thompson retired as chief executive and former CFO Will Gardiner stepped into her role. Skelton joins from software and services firm Fidessa Read more…

SSE and Npower’s retail businesses will merge following the nod from the Competition and Markets Authority (CMA), bringing an end to the era of the ‘big six’ suppliers. The CMA had indicated in August that SSE-Npower deal was in the clear, today it granted official confirmation. Its investigation centred on whether customers on Npower and SSE’s Read more…

Nottingham-based Yü Group has won the contract to supply energy to Trent Bridge, home of Nottinghamshire County Cricket. The three-year deal also includes provisions for renewable energy solutions and other energy related initiatives. “Our partnership will allow Trent Bridge to benefit from our offering, with the convenience of bringing together the gas, electricity and water Read more…

Drax has confirmed press reports that it is in talks to buy UK pumped storage, renewable hydro and gas-fired generation assets from Scottish Power parent company, Iberdrola.  “The discussions are preliminary in nature and there can be no certainty of any agreement or the timing or terms of any such agreement,” it stated. “Any potential acquisition Read more…

Business energy supplier Yü Group posted 57% year-on-year profit increase for the six months to 30 June. Revenue increased 73%. Adjusted profit before tax stood at £1.8m, up from £1.15m. Revenue was £35.8m up from £20.8m. The firm’s gross margin dipped slightly to 16.2%. Chief executive Bobby Kalar said that was due Yü selling more Read more…

Richard Hookway will become chief executive of Centrica Business from December, taking over from Mark Hanafin, who announced his retirement in July. Hookway joins from BP, where he was group chief operating officer for global business services and IT. Prior to that he was CFO of BP’s downstream division, with responsibility for all business to Read more…

The Competition and Markets Authority has indicated it will give the green light to the SSE-Npower merger. Once approved, the deal will see SSE keep its business-to-business customers, while the new retail company will combine SSE’s domestic customers and Npower’s domestic and business customers. Competition concerns had hinged around how the deal might affect households Read more…

The Church of England’s procurement group, Parish Buying, is buying renewable electricity through Total Gas & Power. Thousands of churches and cathedrals have now converted to renewable power. As a result, British churches have diverted millions of pounds from fossil fuels to clean energy. An organised ‘big switch’ campaign earlier this summer is another route open to Read more…

Business energy supplier Yü Group has hired Paul Rawson as chief financial officer. Rawson was chief executive of Engie’s energy solutions division until April. Before that he held roles as finance director at Engie and at Cofely prior to its acquisition by the French utility. While Yü Group stated earlier this year it has “no Read more…

Flogas is expanding into business-to-business electricity supply. The firm, which already supplies mains gas as well as off-grid fuels, has hired Andy Beasley to lead its expansion into the commercial power market. Beasley has almost three decades of energy experience, including senior roles at Flow Energy, Microgen and Utilita. He recently served as a board director of Read more…

As the world of energy changes at an ever-faster rate, how can businesses find the partners they need to cut costs and carbon emissions by producing as well as consuming electricity? Back in Thomas Edison’s day, the way electricity worked was simple. On one side there were producers. They owned and ran big power stations Read more…

Eon plans to cut 500 jobs, around 5% of its UK workforce. The company said the redundancies would be made in non-customer facing roles. CEO Michael Lewis said the cuts were due to an increasingly competitive environment. He singled out the forthcoming price cap on tariffs as a contributory factor. Eon is trying to cut Read more…

Centrica’s UK business energy supply division posted adjusted operating profit of £23m for the six months to 31 June, an improved result on last year, where it broke even. However, business customer losses continue. The company shed 17% of its industrial and commercial (I&C) customer base and 5% of small and medium enterprise (SME) accounts. Read more…

Located on the banks of Costa Beck, Low Costa Mill is a collection of seven holiday cottages set in a peaceful haven on the edge of the Yorkshire Moors. Adapted from former farm and mill buildings, the cottages retain many original features, such as exposed beams and brickwork, and make an ideal base for families, Read more…