Bristol_Energy

Bristol Energy

Bristol Energy

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Bristol Energy was a municipally owned energy supply company, founded in September 2015 by Bristol City Council. Its business accounts were sold to Yü Energy in August 2020, and in the following month its residential accounts were sold to Together Energy. In October 2020, F&S Energy purchased Bristol Energy's renewable energy generator portfolio, along with its commercial feed-in tariff customers.

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The company supplied gas and electricity to domestic and business customers across the United Kingdom. In September 2020, Bristol Energy became a brand of Together Energy, until the latter ceased to trade in January 2022.[2]

History

Bristol City Council made a decision in principle to create such a company in 2010, as part of its Climate Change and Energy Security Framework. In February 2015 a business plan was produced, which was approved by the council cabinet in July 2015. The company began taking customers in February 2016.[3][4][5]

In spring 2018 it lost the contract to supply energy to Bristol City Council after British Gas marginally undercut them on price.[6]

In December 2018, employee number one and CEO Peter Haigh stood down and was replaced by Marek Majewicz, the company's finance director.[7] In November 2018 Bristol Energy began supplying gas to Bristol City Council again, winning back part of the business it had lost to British Gas.

In January 2019, Bristol Energy announced it had received a €1.9m grant from the European Investment Bank and the European Commission to fund renewable energy, in partnership with Plymouth City Council.[8] In that year, 79% of the company's energy supply was generated from renewable sources.[9] In February 2019 it regained the contract to supply electricity to Bristol City Council.[10]

In May 2019, Bristol Energy began a partnership with The Big Issue.[11] In August 2019 the then CEO revealed the company had employed and continued to employ two people who were previously homeless.[12]

In July 2019 the council's risk register entry on 'Long term commercial investments and major projects capital investment' which includes Bristol Energy had a high level risk rating, no comments were given on any risk treatments needed for the Bristol Energy part of the investments.[13]

As of August 2019, the company had received some £37.7 million of funding from Bristol City Council and was not expected to be profitable until 2024.[14]

In March 2020, Marek Majewicz departed as Managing and Finance Director[15] and was replaced by Allan Booth, who has in the past listed his occupation as "turnaround expert".[16] Booth's most recent directorship was at The Towcester Racecourse Company Limited, which entered administration in 2018 and was liquidated in 2019.[17]

Change of ownership

Bristol Energy was wholly owned by Bristol City Council through an intermediate holding company, Bristol Holding Limited (which also has Bristol Waste Company Limited as a subsidiary).[18] In May 2020, Bristol Energy was put up for sale by Bristol City Council.[19] In August of that year, 4,000 business customer accounts were sold to Yü Energy for £1.34 million plus taking on £580,000 of debt.[20][21]

In September, Bristol Energy's brand and residential accounts – 155,000 meter points – were sold to Together Energy, whose parent Total Energy Limited was owned and controlled by Paul Scott Richards and Warrington Borough Council, for £14 million.[22] Total Energy was established in 2016 and had headquarters in Glasgow and offices in Warrington; the transaction approximately doubled the size of Together Energy's operations.[23] Following the sale to Together Energy, Richard Orna, formerly Head of Information Services at Bristol Energy, was appointed as its managing director.[citation needed]

In October 2020, F&S Energy purchased Bristol Energy's entire renewable energy generator portfolio (power purchase agreement contracts), along with its commercial feed-in tariff customers. The combined contracted capacity moving to F&S was circa 91MW.[24][citation needed]

Subsequent events

On 2 October 2020, company No. 09135084 changed its name from Bristol Energy Limited to BE 2020 Limited, retaining any debts and liabilities; its parent company remains Bristol Holding Limited.[25] In the same month, Warrington Borough Council loaned the parent company a further £4 million, secured against the parent and subsidiary companies.[2]

Bristol Energy continued as a domestic brand of Together Energy. Company No. 10167186 was renamed from Together Energy Supply Limited to Bristol Energy Limited without retaining any of the debts of the company, No. 09135084, previously named Bristol Energy Limited.[26][27]

Following sharp increases in wholesale gas and electricity prices which began in autumn 2021, unsuccessful attempts were made to obtain additional funding for Together Energy or to sell the business.[23] With over £12 million due to Ofgem unpaid,[28] Together Energy Retail Ltd announced on 18 January 2022 that it was ceasing to trade.[29] The company's 176,000 domestic customers were shortly afterwards transferred to British Gas.[30] It was reported that the collapse could cost Warrington Council up to £52 million.[28]

Corporate social responsibility

Since its creation in 2015, the Social Value Portal estimate Bristol Energy has delivered over £12 million of social value back into Bristol. The company measures the amount of social value they have delivered using the National Social Value Measurement (TOMs - Themes, Outcomes and Measures) framework.[31]

Bristol Energy delivered £7 million of social value back into Bristol in 2018/19.[9]

Bristol Energy set up its Fuel Good Fund[32] in a bid to help tackle fuel poverty. Since 2015, the energy company has raised over £50,000 through the Fuel Good Fund.

In November 2017, Bristol Energy established the 'No Cold Homes' initiative to help tackle fuel poverty in Bristol. Led by Bristol Mayor Marvin Rees, the Centre for Sustainable Energy, Bristol Energy and Western Power Distribution, brought together charities, business leaders and influencers from across the city to share knowledge and develop an action plan for collaborative work.

Donations include:

  • £2,000 to charity Feeding Bristol's Healthy Holidays Programme in 2019, to help provide food for thousands of children in Bristol at risk of going without during the holiday period.[33]
  • £25,000 to the Centre for Sustainable Energy towards their Warmer Homes Advice and Money (WHAM) project in 2019.
  • A further £50,000 to the Bristol-based Centre for Sustainable Energy to help fund the Fuel Poverty Action Plan, due to launch in 2020.[34]

Customer numbers

Numbers are the number of meter points served at the financial year end, 31 March, as published in the annual accounts and filed at Companies House.[35]

  • Increase 165,000 (2019)
  • Increase 120,000 (2018)
  • Increase 58,000 (2017)

See also

Other companies created by local authorities:

References

  1. [1]
    "Bristol Energy Limited - Notice of Revocation of an Electricity Supply Licence". Ofgem. Retrieved 9 March 2023.
  2. [2]
    "Together Energy Limited". Companies House. Retrieved 1 December 2020.
  3. [3]
    "Bristol Energy vows to support community". BBC News. 16 February 2016. Retrieved 17 May 2020.
  4. [4]
    "New energy supplier Bristol Energy is in it for the social good" (Press release). Bristol City Council. 9 February 2016. Retrieved 17 May 2020.
  5. [5]
    "Bristol's progress towards a zero carbon future". Bristol Energy Cooperative. 2019. Retrieved 17 May 2020.
  6. [6]
    Wilson, Kate (25 April 2018). "Council drops Bristol Energy as green energy provider – despite owning it". bristolpost. Retrieved 29 February 2020.
  7. [7]
    Wilson, Kate (20 December 2018). "Managing director of loss-making Bristol Energy leaves". Bristol Post. Retrieved 7 August 2019.
  8. [8]
    Bristol to launch ‘new wave’ of South West clean energy projects with European funding (14 January 2019) Solar Power Portal.
  9. [9]
    "Our Social Impact 2018–2019". Bristol Energy. Retrieved 6 August 2019.
  10. [10]
    Wilson, Kate (14 February 2019). "Bristol Energy wins council contract after missing out last year". Bristol Post. Retrieved 29 February 2020.
  11. [11]
    "Save cash and go green with The Big Issue Green Tariff from Bristol Energy". The Big Issue. 13 May 2019. Retrieved 13 April 2019.
  12. [12]
    Cameron, Amanda (19 August 2019). "Bristol Energy accused of ' spin' over director's exit package". bristolpost. Retrieved 13 April 2020.
  13. [13]
    Appendix A: Bristol City Council - Corporate Risk Report (register of risk summary) Q1 2019/20 (PDF). UK: Bristol City Council. 2019. p. 1.
  14. [14]
    "Energy firm 'might not make profit for five years'". BBC News. 9 August 2019. Retrieved 29 February 2020.
  15. [15]
    Gnome, Lord (3 April 2020). "Rotten Boroughs – To Be or Not to Be". Private Eye. Pressdram Limited.
  16. [16]
    "Allan George BOOTH - Personal Appointments". Companies House. Retrieved 9 May 2020.
  17. [17]
    "TOWCESTER RACECOURSE COMPANY,LIMITED(THE) - Overview". Companies House. Retrieved 9 May 2020.
  18. [18]
    "Bristol Holding Ltd: Annual Report". March 2019. p. 19. Retrieved 29 February 2020.
  19. [19]
    Postans, Adam (5 May 2020). "Bristol Energy put up for sale by council as full inquiry is demanded". Bristol Post. Retrieved 5 May 2020.
  20. [20]
    "Bristol Energy: Troubled company sells off business accounts". BBC News. 10 August 2020. Retrieved 11 August 2020.
  21. [21]
    Hailstone, Jamie (10 August 2020). "Bristol City Council sells off part of energy business". Environment Journal. Retrieved 11 August 2020.
  22. [22]
    "Bristol Energy: Troubled company sells off domestic customer base". BBC News. 8 September 2020. Retrieved 9 September 2020.
  23. [23]
    "Notice of administrator's proposal". Companies House. 30 March 2022. pp. 7–8. Retrieved 27 September 2022.
  24. [24]
    "F&S Energy Purchase the Renewable Energy Generator Portfolio from Bristol Energy". www.fs-energy.co.uk. 20 October 2020. Retrieved 22 October 2020.
  25. [25]
    "BE 2020 Limited". Companies House. Retrieved 1 December 2020.
  26. [26]
    "Contact us". Bristol Energy. Retrieved 10 November 2020. Bristol Energy has been purchased by ... Together Energy. Most of our existing staff have been retained and we continue to operate as normal under the Bristol Energy brand.
  27. [27]
    "Bristol Energy Limited". Companies House. Company No. 10167186. Retrieved 10 November 2020.
  28. [28]
    Pickard, Jim; Thomas, Nathalie (7 January 2022). "UK council has £52m exposure to troubled power company". Financial Times. Retrieved 28 January 2022.
  29. [29]
    Lempriere, Molly (18 January 2022). "Together Energy becomes first supplier to collapse in 2022 amidst continuing high power prices". Current. Archived from the original on 18 January 2022. Retrieved 19 January 2022.
  30. [30]
    Lempriere, Molly (25 January 2022). "British Gas takes on Together Energy's 176,600 customers following collapse". Current. Retrieved 27 January 2022.
  31. [31]
    "National TOMs". Social Value Portal. 18 October 2017. Retrieved 4 March 2020.
  32. [32]
    Reeves, Millie (25 March 2020). "What it's like to live in fuel poverty in Bristol". bristolpost. Retrieved 4 March 2020.
  33. [33]
    "Healthy Holidays". Feeding Bristol. Retrieved 4 March 2020.
  34. [34]
    "£25k Wham boost ..." www.cse.org.uk. Retrieved 4 March 2020.
  35. [35]
    "Annual accounts 2018–19 as filed at companies house". 15 November 2019. Retrieved 29 February 2020.
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