Extra Energy

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Extra Energy Supply Ltd.
Utility company
Founded2014
HeadquartersBirmingham, United Kingdom
Key people
Moti Ben-Moshe (Owner)
Websitewww.extraenergy.com

Extra Energy Supply Ltd (trading as extraenergy) was an independent retail energy supplier based in Birmingham, England. It supplied gas and electricity to domestic and SME customers. Extra Energy is part of Extra Holding, which operates in industries including telecoms, travel, insurance and energy. The group holds no debt and has high levels of liquidity. [1]

The company was launched in the UK in April 2014 and was the fastest growing energy supplier in the country.[2] In November 2015, Extra Energy attracted 29.4% of all customers who switched energy supplier.[3]

In February 2016, the company was chosen by the Sun newspaper as its partner energy supplier for its People Power deal, which is designed to save Sun readers money on their energy bills. The tariff saved customers switching from a Big Six firm an average of £358.[4]

Extra Energy was founded and is solely owned by Moti Ben-Moshe.[5] The company first launched in Germany in 2008, where it now has more than 2 million customers.[6]

The energy supplier has consistently featured in best buy tables since it launched into the UK market by offering the best dual fuel tariffs in the market,[7] however It drew 1,682 complaints per 100,000 customers in the first three months of 2016, according to figures from Citizens Advice, which said this was "the highest complaints ratio ever recorded" in the five years since it began compiling league tables.[8]

The company appointed Ben Jones,[9] previously CEO of BES Utilities, as managing director of operations in 2015, and hired Richard Rose,[10] formerly director of financial controlling at RWE npower, as chief financial officer.

As of 21 November 2018 Extra Energy ceased trading[11]. The regulator OFGEM automatically protected supplies [12] and assigned Scottish Power as the replacement provider for existing customers after a competitive process[13].

References[edit]

  1. ^ ""I have a plan for every IDB company" - Globes English". Globes. Retrieved 2016-05-03.
  2. ^ "Extraenergy: why is it attracting so many customers?". Telegraph.co.uk. Retrieved 2016-05-03.
  3. ^ "More switchers are moving away from the 'big six' energy suppliers". This is Money. Retrieved 2016-05-03.
  4. ^ "We unveil the country's cheapest energy deal in five years". www.thesun.co.uk. 2016-02-13. Retrieved 2016-05-10.
  5. ^ "ExtraEnergy, Energylinx for Business tells you about ExtraEnergy". www.energylinxforbusiness.co.uk. Retrieved 2016-05-03.
  6. ^ Massy-Beresford., Helen (2014-08-23). "German Extra Energy to take on 'big six' with ambitious plans". Express.co.uk. Retrieved 2016-05-03.
  7. ^ "Who's behind new best buy energy company Extra Energy?". www.lovemoney.com. Retrieved 2016-05-10.
  8. ^ "Small supplier Extra Energy draws 'worst ever' level of complaints". The Telegraph. Retrieved 2017-01-21.
  9. ^ Ben Jones at LinkedIN
  10. ^ Richard Rose at LinkedIN
  11. ^ "Sixth energy firm this year collapses". BBC News. 2018-11-21. Retrieved 2018-12-01.
  12. ^ "Ofgem protects customers of failed supplier Extra Energy". Ofgem. Retrieved 2018-12-01.
  13. ^ "Ofgem appoints Scottish Power to take on customers of Extra Energy". Ofgem. Retrieved 2018-12-01.

External links[edit]