2015 has been an exciting year for the energy sector, as news of investments and mergers boost confidence in an industry that has previously felt neglected.
Commenting on the news that Love Energy Savings, a North West-based TPI, recently received a £4.5 million investment, Robert Buckley, Director of Cornwall Energy, has voiced his support for the company’s development.
“It’s a big opportunity for Love Energy Savings to get a deeper root into the market and it’s just one example of a number of investments that have been made all with the view of providing better services to customers, allowing them to intervene in the SME market more.”
He continued: “We are seeing continuing investment in TPIs, like that into Love Energy Savings, going to improved infrastructure and services for business energy customers. With energy markets continuing to be very busy and complex, that must be a good thing for UK plc.”
Speaking more generally about investment into the energy sector, Robert placed the Love Energy Savings investment alongside other landmark deals that have caught the eye in the industry this year, namely the Accenture/Energy Quote deal, and the World Fuel Service purchasing Bergen Energi.
Robert noted: “There is a lot of activity just now in terms of people investing to provide energy services to customers.”
This can only ever be good news for an industry which has not always received great press.
With the proposed Ofgem regulations still nowhere near complete, customers are calling out for a trustworthy voice that will defend them against energy suppliers. Such a large investment now means that Love Energy Savings can become an even more authoritative voice for the under-represented SME market.
“I think if you look at the SME market, it is a very, very large space and the TPIs are just beginning to scratch the surface of it,” commented Robert.
He added: “I know Love Energy Savings has always made a play of saying they are on the customer’s side.”
Speaking to other TPIs in the sector, Robert advised them to “have confidence” in what they are doing. He urged them to “test (their service) in the market and understand what customers respond to”.
“There is a lot of uncertainty to be managed and a lot of opportunity for someone to help the customers work their way through it.”
Love Energy Savings is committed to maximising the opportunity, understanding the responsibility that comes with it.
Phil Foster, MD of Love Energy Savings, said the substantial investment from NVM will allow the company to put its ambitious expansion plans into practice, which will have a positive knock-on effect in the wider community.
“SMEs are increasingly aware of the vast savings they can make on their energy bills. They also know that with industry-leading technology, an unwavering commitment to customer service and a strong track record for delivering results, working with Love Energy can really pay dividends,” he remarked.