A major shakeup in the local energy market is underway as Flogas acquire Budget Energy, who currently supply electricity to over 90,000 customers across the island of Ireland.
Flogas supply electricity and gas in the Republic of Ireland and this deal will seek to support efforts to increase their market share. It also represents their first move into the Northern Ireland electricity market.
And for customers the deal could pave the way for new electricity, gas and dual fuel deals.
The Budget Energy story
Budget Energy first started to supply electricity customers in Northern Ireland in 2011. Currently they have over 80,000 domestic customers, around 10% of the total domestic market. BEenergy, part of Budget Energy, launched in the Irish market in 2017. Since their launch they have been steadily increasing customer numbers through a range of discount and fixed priced tariff offers. Commenting on the deal, 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.”Who are Flogas
Flogas is part of DCC plc, a FTSE 1000 company listed on the London Stock Exchange. Flogas Ireland employs 225 staff across the island of Ireland, operating in LPG, Natural Gas and Electricity with offices in Drogheda, Dublin, Cork and Belfast. They have a long track record in the retail energy market and currently provide gas to around 35,000 homes and businesses across Ireland. Although perhaps more recognised as a gas supplier in recent years Flogas have increasingly focused on the electricity market. They secured an electricity supply licence in Ireland and in November 2019 acquired the customers of Just Energy. This latest move to acquire the customers of Budget Energy will underpin their place as a significant supplier of electricity across the island of Ireland. 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.”What this means for customers of Budget Energy
Flogas has assured Budget Energy customers in ROI and NI that its business as usual. There will be no immediate changes as a result of today’s deal. There will be no disruption to service or impact to customer accounts. The terms and conditions of your supply contract will remain unaffected and will continue as normal. Budget Energy customers should continue to use the existing customer service contact details:- From NI: Call the Budget Energy contact centre on 0800 012 1177, email talktous@budgetenergy.co.uk or live chat at www.budgetenergy.co.uk
- Customers from ROI please call 1800 817 383 or email info@beenergy.ie
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