Energy company in vow to continue to disrupt market

CHESTER-based energy technology company Flowgroup says its growth in customer fuel accounts from 100,000 to 214,000 since January 1 has pushed revenue up to £106m.

Chief executive of the AIM-listed company Tony Stiff will hail the performance of the its energy business Flow Energy at the company’s annual meeting today.
He will say: “This is an impressive achievement and the group believes it can continue to deliver accelerated growth as the big six suppliers continue to lose customers.

“The market share enjoyed by the big six was 98% in 2013 but has now fallen to 84%. We believe it has further to fall as challenger suppliers like Flow attract customers with a combination of competitive pricing and good customer service.”

Flow Energy was awarded Which? Recommended Provider status for energy in January 2016, and in June 2016 took second place in the Citizens Advice Energy Supplier Performance League table, the only challenger supplier ever to appear in the top six.

“We believe that the reputation we have built for excellent customer service combined with the wholesale energy agreement we have in place with Shell and our experienced management team, will enable us to deliver a large energy supply business over the coming years,” Stiff said.

Meanwhile, following the announcement of its first commercial installations in April of this year, Flowgroup has continued to install Flow mCHP boilers in new customer homes.

Stiff went on: “Our strategy remains the same – to disrupt the energy and heating markets by offering high quality, competitively priced products and services on an enduring basis, delivering customer value across the energy space in innovative ways.

“We are targeting significant growth in Flow Energy in 2016/17, and will continue to develop our mCHP business both in the UK and abroad, alongside establishing our smart boiler business in the UK.”

Close