One of the UK’s biggest business energy suppliers has rebranded in a move that further distances itself from its former owner, Russian gas giant Gazprom.
Gazprom Marketing & Trading Retail Ltd., which traded as Gazprom Energy, is now called SEFE Energy Ltd., reflecting the new name of its parent company, Securing Energy for Europe. The retail supplier supplied around a fifth of the UK’s industrial and commercial gas in 2020, but saw some customers try to cut ties after Russia’s invasion of Ukraine.
“We’ve seen many customers, both public and private, comment very positively on their desire to stay with us now that there is no Russian exposure,” SEFE Energy CEO Julian Denee told Bloomberg. The company has about 30,000 customers and has seen some big ones renew in recent weeks, he added.
The group was on the brink of collapse earlier this year as partners severed ties with its London-based trading house, which also changed name. Boycotts, sanctions risks and bank scrutiny threatened to destabilize the group and even prompt a British government administration, until the German government took control in April and injected a €9.8bn sovereign loan ( 10 billion dollars).
SEFE Energy, whose clients include the National Health Service and McDonald’s Corp., says it is offering short-term and flexible contracts to help business customers with unpredictable energy costs ahead of a very expensive winter as wholesale prices rise. The company also has customers in France and the Netherlands and employs around 250 people.
Source: Capital
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