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Ireland's ESB Energy merges with UK's So Energy

By Reuters

(Corrects name of company to ESB Energy in headline from SEB Energy)

LONDON – Irish power supplier ESB Energy has merged with UK supplier So Energy, with ESB becoming a majority shareholder, the firms said on Friday.

ESB Energy has acquired more than a 75% shareholding in So Energy for an undisclosed sum. The two companies will merge and trade under the So Energy brand, supplying power to 310,000 domestic customers.

Both companies supply 100% renewable electricity.

“It’s our ambition to build on the success So Energy has achieved in a very competitive market, but one we are confident has excellent potential for our business,” said Monica Collings, Managing Director of ESB Energy.

There are around 50 energy suppliers in Britain.