EDF and Utilita sign an exclusive structured trading agreement for the provision of wholesale market services.
EDF Wholesale Market Services will guarantee Utilita access to both forward and short-term wholesale products via its market leading trading teams.
Both Utilita and EDF are working towards a sustainable, net zero future, enhancing affordability and stability in the UK energy market.
Utilita, a well-established and prominent energy and gas supplier with a substantial presence in the UK market, has recently signed a wholesale services agreement with EDF Wholesale Market Services, a division of EDF in the UK. This exclusive multi-year agreement provides Utilita with a route to market service, enabling them to meet the electricity and gas requirements of their retail business and offer competitive prices to their customers.
Utilita serves more than 800,000 customers with approximately 1.5 million supply points, making it the UK’s number one pay-as-you-go energy supplier. EDF, the UK’s biggest generator of low carbon electricity and off-taker of renewable energy, will provide ready access to significant volumes of energy for Utilita’s customers at competitive prices. The facility includes access to a comprehensive range of products across the trading horizon, allowing Utilita to manage its customer demand profile efficiently and sustainably.
Stuart Fenner, Commercial Director, Wholesale Market Services at EDF, stated, “We are delighted to partner with Utilita as its exclusive Wholesale Market Services provider. This collaboration underscores our commitment to delivering innovative solutions as we expand our services to a range of market participants. With our extensive wholesale market experience and expertise, we are excited to support Utilita in optimising its market position and navigating the dynamic energy landscape. We look forward to working with Utilita over many years and seeing the positive impact this partnership will bring.”
Imran Bannister, Chief Analytical Officer at Utilita Energy, said, “Our business has comfortably navigated the energy and wider cost of living crisis thus far, and this collaboration will only bolster and build upon our robust approach to risk management. EDF’s impressive offering of extensive market access and new, lower carbon products will allow us to operate in a way that’s good for the planet, as well as the pockets of more than 800,000 customers.”
EDF Wholesale Market Services is a major player in the UK route to market and flexibility services market with a leading role in the delivery of flexible asset management services. The agreement provides for future collaboration opportunities in this space and underlines both parties’ commitment to the UK’s net zero target.
