Energy company Flogas Ireland has announced its entry into the electricity market in Northern Ireland with the acquisition of Budget Energy, one of Northern Ireland’s leading electricity suppliers.
It marks the largest investment that Flogas has made into the growth of its energy business to date and follows its purchase of Just Energy Ireland in November 2019.
Budget Energy, which trades as BE Energy in ROI, has over 90,000 customers. George McEvoy, chief executive and owner of Budget Energy, was at the announcement with Paul Kenny, general manager, Flogas Energy.
The acquisition of Budget Energy will enable the expansion of the Flogas business into the residential and commercial electricity market in Northern Ireland, where it has been operating for over 30 years in the LPG and more recently, the commercial natural gas market.
John Rooney, managing director, Flogas Ireland, said: “The Budget Energy acquisition is a significant step forward in the growth of Flogas and accelerates our vision to be one of Ireland’s leading all-island energy suppliers.”
In recent years, Budget Energy has contracted with a strong portfolio of local renewable energy generation across solar, wind and anaerobic digestion sources. This renewable generation will be a key contributor to Flogas’s sustainability strategy in the years ahead.
There will be no immediate changes for Budget Energy customers in ROI and NI. Its customer service office will continue to operate from its base in the North West. Flogas will retain the Budget Energy brand name in NI and plans to recruit additional personnel in sales, marketing and customer service across the business to support its growth over the coming months.
Commenting on the news, George McEvoy, chief executive and owner of Budget Energy, said: “While sad to be leaving Budget Energy, I am delighted that Flogas, an established Irish energy company with deep roots in Ireland and the community, has bought the business. I am confident that this will be a positive development both for the Budget energy team and our customers in the months and years ahead and I wish them well.”