Business

ESB acquires UK energy retailer So Energy Limited

ESB has acquired a UK energy supplier, So Energy, to enhance its position in the UK retail market and continue its commitment to delivering “clean, secure, and affordable energy” to customers.

The merger of So Energy and ESB Energy (ESB’s UK retail brand) will result in a business serving more than 300,000 customers, with the company continuing to trade as So Energy with ESB retaining 75 per cent of the new combined entity.

ESB has operated in the UK for nearly 30 years, investing more than €2 billion in generation assets including wind and solar while also providing EV charging infrastructure in London, Coventry and Birmingham.

In 2018, the company entered the competitive energy retail market with the launch of ESB Energy and rollout of green tariffs and focus on customer solutions and offerings.

Commenting on the merger, Marguerite Sayers, executive director, customer solutions at ESB, said: “The merger with So Energy is another significant milestone in our UK business, while further enhancing our customer offering and growth potential. So Energy’s customer centricity and commitment to a low-carbon future mirrors our strategy and it is our intention to build on that success. We are really looking forward to integrating with and building a bright future with the So Energy team.”

So Energy is a green energy retailer based in Chiswick, London. It was founded in 2015 by Simon Oscroft and Charlie Davies, both former Macquarie energy traders, as a disruptive challenger in the UK’s energy retail market.

The merger is expected to be completed in the coming months.

Source:

www.breakingnews.ie

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