#UK #Vattenfall #RES #B2B #Market
Swedish state-owned company Vattenfall is expected to begin selling power to British consumers for the first time on 01 October 2017, creating new competition for large electricity consumers against established energy suppliers. The company announced in May 2017 that it will enter the UK business to business (B2B) market, and is negotiating with several large industrial and commercial power users to provide them with 100% RES power sourced from its own generation portfolio. Customers will be able to manage their purchases through a modified version of the Vattenfall platform established in the Dutch market, which aims to provide real-time flexibility to spread purchasing risk and manage consumption.
Regarding cost competitiveness, James Hunt, leader of Vattenfall UK stated that “ultimately, we expect to have to compete with all other competitors directly on price”. Additionally, Hunt believes Vattenfall’s expertise in balancing its portfolios, as well as its experience through generation activities in the UK, will help minimise excess costs for the company. Vattenfall will also be talking to third party intermediaries (TPIs), which buy power for the bulk of the B2B market, to try to increase transparency towards their consumers – one of the pillars of their platform.