Bristol Energy sold to Together Energy for £14 million

Sale saves jobs

Bristol City Council has now sold Bristol Energy's residential customer base to Together Energy, after selling the business customer base last month.

Scotland based Together Energy, which itself is 50% owned by Warrington Borough Council will see 110 Bristol Energy jobs saved as those frontline roles will be transferred to the new brand.

50 jobs remain at risk with Together Energy stating that a consultation will be held on whether they will be viable.

The deal will see Together Energy gain 155,000 new residential customers as well as the Bristol Energy brand and systems.

Read more: Bristol City Council calls time on Bristol Energy 

Money lost

Bristol City Council announced that it was ‘delighted’ over the sale as Together Energy not only offered a good deal for the city but also shared Bristol Energy’s ‘values’.

“Throughout this process it has been really important that we find a buyer who will not only offer a good deal for Bristol but also shares similar values. We are therefore delighted that Bristol Energy has been acquired by

Together Energy which has proved committed to do the very best for its staff, customers and the environment,” said Bristol deputy mayor Craig Cheney.

Critics of the council have pointed out that over the course of its operation it ploughed £36.5 million of taxpayer money into the energy supplier since its formation back in 2015. With the sale of both its domestic and business customer bases it has now only recovered £15.3 million a loss of £21.2 million.

Read more: Bristol Energy to be sold by Bristol City Council following accountancy firm recommendation

Other criticisms aimed at the city council include how they appointed a new managing director to oversee the sale of the company after the former MD received a pay out of £86,000 for leaving it.

Last month it sold off Bristol Energy’s business accounts for £1.34 million to Yu Energy. The final amount of money lost by the council has not yet been made clear.

In a press release Bristol council said: “Together Energy prides itself on its social impact employing more than 90% of its staff from Scotland’s most deprived areas. During negotiations, Together Energy committed to guaranteeing the jobs of 110 front line workers who will now remain in Bristol. The companies also bot strive to provide renewable and sustainable energy to customer with Together Energy supplying 100% renewable electricity to all its customers.”

Together Energy CEO Paul Richards said: "We are delighted to welcome Bristol Energy's customers into the Together family and want to assure them that nothing is changing - tariffs, terms and conditions and how you contact Bristol Energy will all remain consistent. There are great synergies between both companies and the acquisition is a natural fit to our growth strategy."

Further Reading

Resistance to Ofgem price controls intensifies

Is ‘Green Energy’ really good for the environment?

Robin Hood Energy sells customer base to British Gas

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