First Utility

From Wikipedia, the free encyclopedia - View original article

First Utility
IndustryUtilities
Founded2008
HeadquartersWarwick, United Kingdom
Area servedUnited Kingdom
ProductsGas & Electricity
Websitewww.first-utility.com
 
Jump to: navigation, search
First Utility
IndustryUtilities
Founded2008
HeadquartersWarwick, United Kingdom
Area servedUnited Kingdom
ProductsGas & Electricity
Websitewww.first-utility.com

First Utility is a supplier of gas and electricity in the United Kingdom, based in Warwick. Despite having a market share of less than 1%, in October 2013 the company was ranked as the seventh largest supplier in the UK, making it the largest outside the Big 6.[1]

Unlike the Big 6, the company does not generate electricity, instead purchasing it from international markets. The company has a relationship with Shell, which sees it act as an intermediary to purchase wholesale energy on the global market. [1]

History[edit]

The company was launched in 2008 by co-founders Mark Daeche, Darren Braham and Marcus Citron as a spin-out from First Telecom.[2][1] In January 2012 the company appointed the former lastminute.com CEO Ian McCaig as its new CEO.[3]

In January 2014 the company signed a three year deal to become title sponsors of the Super League.[4]

In September 2014, the firm announced it was considering an initial public offering or outside investment to fund foreign expansion.[5]

References[edit]

  1. ^ a b First utility boss: bills could double in the next 10 years The Telegraph, 19 October 2013
  2. ^ "Fast Track 100 - First Utility". Fast Track. Retrieved 28 March 2012. 
  3. ^ "Energy minnow seeks big name". London: The Independent. 13 February 2012. Retrieved 28 March 2012. 
  4. ^ Super League agrees new three-year sponsorship deal BBC Sport, 21 January 2014
  5. ^ "UK's First Utility eyes IPO to fund expansion" (Press release). Reuters. 7 September 2014. 

External links[edit]