French energy giant EDF has acquired Bournemouth-based iSupplyEnergy’s customer accounts, ahead of the company shutting down.
iSupply, part of Vattenfall, has 190,000 customers who will now be transferred to EDF mostly between April and June. Following the transfer, the company will wind down its operations, with the jobs of all 250 iSupply employees at risk.
The move comes after iSupply was fined £1.5 million by Ofgem in December for overcharging its customers. Vattenfall only entered the UK retail market less than three years ago with the acquisition of the company.
EDF has already seen its customer base grow as small suppliers are increasingly struggling in the UK market. Last year, the company gained Toto Energy’s customers after it became the 16th supplier in two years for fold.
A spokesperson for EDF said that it was “committed to growing its retail business in the UK so it can support as many customers as possible on the journey to net zero emissions".
"iSupplyEnergy customers will be able to benefit from low carbon energy alongside our industry-leading customer service, and do not need to do anything at this time. Their supply will continue as normal and we will be in touch with them shortly to explain any new arrangements.”
Vattenfall’s other UK focused businesses will not be affected by the sale, with the company stating that the decision to exit the UK domestic energy market will allow it to focus on UK renewable power generation, heating, B2B sales and distribution businesses.
Cindy Kroon, vice-president customers & solutions Vattenfall Netherlands and UK said that EDF shared many of the company’s values.
“We’re confident iSupplyEnergy customers will be very well looked after throughout the transition and will pay no more for energy supplied by EDF.
“Having stepped out of energy retail, we can focus greater attention on developing our other businesses in the UK.”
Vattenfall now has 11 onshore and offshore wind farms in the UK, with an installed capacity of 1GW. Additionally, it has two 1.6GW wind projects off the Norfolk coast in the pipeline, along with others it is looking to develop.
EDF has also been cementing its role in the EV sector of late, after acquiring charging company Pod Point in February.