Elexon to grant Extra Energy Supply Limited CME (Controlled Market Entry) Approval
30.09.2013 – Birmingham
Extra Energy Supply Limited (UK) is glad to announce passing of all regulatory tests and accreditation procedures lead by the UK electricity regulators OFGEM and Elexon.
The mass market entry approval was granted on 30.09.2013. “Marketing and sales activities were announced to launch on the 4th of November,” said Managing Director Geoff Childs. “We will initially enter into the domestic and SME markets and will expand the product portfolio to I&C from the second quarter of 2014.
With the agility and flexibility of its billing, CRM and sales systems, Extra brings unparallel technological benefits. I think that the integrated balancing and settlement interfaces, which provide the customer with a holistic journey experience without legacy issues, will give us a tremendous advantage in the market.”
Geoff joined the Extra Energy Supply earlier this year, coming from British Gas (Centrica), where he had led the business sales unit for the last 5 years. The company already recruited about 500 employees to support its launch.
“The UK market is the most developed energy market in Europe. Although smaller in terms of household numbers compared to the German market, the awareness of switching in the UK is higher compared to Germany. In 2012, 5.2 million customers changed their energy supplier in the UK, whereas only 3.4 million did so in the German market. At the same time, the UK market is highly dominated by the ‘Big 6’ and competition is lower than in Germany. We have high expectations for the UK market and hope to duplicate our success yet again, hopefully quicker. We aim to acquire 1 million customers within the next 18 months,” said Moti Ben-Moshe, Chairmen of the Extra Group.