Engie plans entry into UK home power market

Paris-based Engie has announced its intention to enter the UK household power market in 2017.

FT reports that Engie plans to build its own consumer brand as an extension of its business supplying power to British businesses.
In a sign of its ambition, Engie has recruited a panel of high-powered advisers, including Sir Michael Rake, chairman of BT, Sir Ed Davey, former energy secretary, and Lord Kerslake, former head of the civil service, to help it transition to market.

The company would focus on adding value to basic gas and electricity supplies, CEO Wilfrid Petrie said, including technology to help customers increase energy efficiency. “There is more value for us in helping manage energy demand than in supplying the energy itself,” he added.

Engie already operates a hydroelectric power station in Snowdonia and is part of the consortium planning to build a new nuclear power plant near Sellafield in Cumbria.

Mr Petrie said the UK’s vote to leave the EU had not changed Engie’s enthusiasm for Britain. “It’s still a country with 60 million inhabitants with a major economy,” he said.

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