01.07.2021 - Axpo’s subsidiary for Great Britain and Ireland and Valda Energy, an energy supplier to the UK SME business market, have announced a two-year extension to their existing Wholesales Energy Agreement. The two businesses first partnered in 2019, signing a three-year power deal, and the extension now takes the partnership forward to 2024. Thus, Axpo UK further consolidates its position in the British energy market.
In the context of the first partnership signed in 2019, Axpo agreed to provide Valda Energy access to the long and short-term UK wholesale energy markets. Thus, enabling Valda Energy to manage the risks associated with the constantly changing market conditions and offer fully hedged fixed term contracts to its customers. Now, the companies have decided to extend this partnership for a further two years to 2024.
Steven McCarthy, Managing Director Axpo UK, commented: “We are delighted about the extension of the existing contract with Valda Energy. Axpo’s core traits of reliability, sustainability and innovation closely match Valda Energy’s operational ethos. The extension of this partnership with Valda Energy is further evidence of Axpo’s commitment to its B2B business activity in the UK energy market”.
Steve James, CEO of Valda Energy, added: “This is very positive news for Valda Energy. The willingness of Axpo to extend our partnership early – and during such a challenging economic period for UK industry - highlights the confidence they have in our operations, products and people. This agreement will continue to provide stability and certainty at a key time in the growth of the business. Valda Energy is here to challenge the SME supplier market and be a viable alternative to the current crop of suppliers. This partnership allows us to continue offering our pricing certainty – along with our outstanding customer service and digital first solutions”.
The Valda Energy management team brings many years of senior-level industry experience, having operated and run supply businesses in the UK energy supply market since it deregulated. By combining this knowledge with the use of the latest technologies, such as outstanding cloud-based systems, accurate invoicing and smart metering, Valda Energy’s stated aim is to be the gas and electricity supplier of choice for SME businesses.
Axpo has been present in the United Kingdom since 2008. Axpo UK, the Group’s subsidiary for Great Britain and Ireland, provides risk management, market access, and supply solutions across the energy supply chain. Its clients include gas and electricity producers, large industrial and commercial (I&C) consumers, and energy suppliers. The team based in London consists of 25 employees. Growth in the UK is part of Axpo’s strategy of constantly expanding its international presence.