SmartestEnergy acquires Dual Energy
December 17, 2019
Energy firm SmartestEnergy has acquired fellow UK company energy supplier Dual Energy.
Complementing its industrial and commercial electricity supply business, this deal lets SmartestEnergy take its customer service to smaller businesses with non-half hourly meters, laying the foundations for the transition to net-zero.
The acquisition was built on an existing relationship where SmartestEnergy has been providing wholesale market access services to Dual Energy.
Dual Energy is a small business supplier with a focus on installing smart meters to improve the quality and efficiency of business energy supply contacts. Both organisations have a strong customer ethic and recognise the role consultants play in the energy market, so the acquisition creates value for both sides.
“SmartestEnergy was the original asset-light energy company building a business model around a leading customer experience,” said Robert Groves, CEO of SmartestEnergy. “This acquisition enables us to expand our business reach as we continue to drive a smarter transition to net-zero carbon economy.”
Formerly an independent company, Dual Energy hopes the backing of SmartestEnergy will help it continue its growth ambitions.
“We have worked with the SmartestEnergy team since we first began trading nine years ago and have been consistently impressed with their customer-focused approach,” said Ben Giddings, Dual Energy’s CEO. “The acquisition means we will continue to drive business smart meter adoption. SmartestEnergy’s commitment to our business is good news for our partners and customers as we scale up our plans at this exciting time.”
In addition to providing scale of operation, the acquisition will also help small businesses benefit from Carbon Trust independently certified 100% renewable electricity.
Louise Wapshare, vice president of supply, added: “This is a really exciting opportunity for SmartestEnergy to support the unique business model that Dual Energy has in this difficult to reach business segment, using our strengths to accelerate their activity to disrupt the business energy market.”
Dual Energy business will continue to operate from Worthing and its customers will be unaffected by the change.
Founded in 2009, Dual Energy is an independent, energy supplier to more than 80,000 SME businesses.