Swedish energy group Vattenfall has acquired iSupplyEnergy for an undisclosed sum, marking its entry into UK consumer energy market.
With around 170 employees, iSupplyEnergy is supplying gas and electricity to around 120,000 customers in the UK.
Based in Bournemouth, iSupplyEnergy provides customers with iFix and iVariable tariffs for
gas, electricity and dual fuel.
The acquisition will allow Vattenfall to sell electricity and natural gas to private customers in the UK.
In early May, Vattenfall also said that it will commence selling renewable power to British business customers.
Vattenfall has invested around £3bn in the UK’s wind energy businesses, and recently entered into solar PV, battery storage and business to business sales.
Vattenfall president and CEO Magnus Hall said: “Vattenfall 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.
“Together with iSupplyEnergy, we will be able to supply a wide range of energy solutions and services to private customers.”
Vattenfall customers and solutions senior vice president 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.”
The company started making significant investments in the UK energy industry in 2008 after buying three wind businesses. It is expected to operate more than 1GW of installed wind capacity from 2018.
Vattenfall, which produces electricity and heat, has operations in the Netherlands, Germany, the UK and Sweden.