- Sector: Scottish Firms
- Region: Scotland
Spark Energy is not alone in taking on the UK’s ‘big six’ energy giants, but by creating a niche for itself the company has managed to stand out from the competition.
“We’ve focused on building the UK’s only independent energy supplier for the rental sector,” explains CEO Chris Gauld. “We supply gas and electricity to rented homes right across the UK, saving agents, landlords, tenants and social housing organisations time and money with lower prices and better service. We invest in our service, partner with the best and try to strike the right balance between value, service and responsibility.”
“It’s difficult to be a specialist, but we’re proving it can be done”
With property prices so high these days, many UK residents end up renting rather than buying. This presents plenty of growth opportunities and the rented property sector has some particular characteristics on which a specialist supplier like Spark Energy can focus.
“With the sector’s frequent move-in and move-out events, and plenty else to do as a result, we try to make life easier and cheaper for everyone in the chain,” says Chris. “Energy is a challenging, complex market that gets a terrible press so it’s difficult to be a specialist player, but we’re proving it can be done.”
In meeting clients’ needs, the volatility of global energy prices is always a key consideration. With this in mind, the company signed a three-year deal with Macquarie Bank in December 2015 to provide long-term hedging, which has helped the firm protect its customers from fluctuations in prices. It has also invested in digital assets to keep costs low and convenience high for customers.
- 350,000 - The number of customers that Spark Energy supplies
The strategy seems to be working. Chris says Spark Energy, which is based in Selkirk in the Scottish Borders, is on track to double its size over the next two years and, to that end, the company has also recently opened a training academy to help it develop its workforce.