Bristol Council has sold the energy supplier it founded in 2015 for a hefty loss after the company fell into financial difficulties. Bristol Energy, which was funded with tens of millions of pounds of council taxpayers’ money, has been acquired by Scottish power provider Together Energy for £14m. The sale will recoup only a fraction of the estimated £35m that the council has plunged into Bristol Energy in the last five years, but has saved more than 110 jobs at the failing supplier. Together Energy’s deal means the Clydebank-based company will acquire 155,000 residential customers plus the Bristol Energy brand and systems. Earlier this month, Bristol Energy sold its 4,000 business customer accounts to supplier Yü Energy for £1.3m. Paul Richards, chief executive of Together Energy, said: “There are great synergies between both companies and the acquisition is a natural fit to our growth strategy.
Telegraph 8th Sept 2020 read more »