In a move that gives Utilita’s 800,000+ customers access to EDF’s range of low-carbon products, the utility has entered into an exclusive structured trading agreement with the UK energy giant.
The multi-year agreement means Utilita can take advantage of EDF’s trading teams to secure competitive pricing on both forward and short-term wholesale products, allowing it to pass those savings on to its pay-as-you-go customers.
EDF is the UK’s largest producer of low-carbon electricity, delivering nearly a fifth (18.4%) of the UK’s zero-carbon generation, according to 2022 figures. Utilita will benefit from EDF’s expertise in efficiently and sustainably managing energy demand profiles.
EDF’s Stuart Fenner, commercial director for wholesale market services, was keen to underscore this agreement forms the core of a strategic partnership, not just a business transaction: “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, added: “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 generates its low-carbon electricity from over 30 onshore wind farms alongside two offshore farms and five nuclear power stations and employs 14,000 people across England, Scotland, Wales and Ireland. It’s also one of the UK’s largest investors in renewables, with over 1.5GW of operational generation and more than 14GW in planning and development across onshore and offshore wind, solar and battery storage.
The company’s 450MW Neart Na Gaoithe project in Scotland is its largest offshore wind farm in Britain. That would, however, be dwarfed by its proposed 1.5GW floating offshore wind farm in the Celtic Sea.
