Swedish utility Vattenfall has entered the UK domestic energy retail market by acquiring iSupplyEnergy. The buy gives it 120,000 customers.
The move follows Vattenfall’s entry into the business-to-business market, where the firm recently told The Energyst it plans to compete aggressively on price for its wind-derived power.
Magnus Hall, president and CEO of Vattenfall, said the company is “in Britain to grow and the acquisition of iSupplyEnergy is in line with Vattenfall’s strategy to grow our customer base in Northern Europe”.
Vattenfall’s senior vice president for customers & solutions, Martijn Hagens, said: “We are convinced this deal will be good for our new customers too, as we will combine our experience of customer focused and increasingly fossil-fuel free energy solutions in northern Europe with iSupplyEnergy’s strong, nimble, digitalised and transparent customer service.”
From 2018, the Vattenfall’s UK wind portfolio will top 1GW of installed capacity.