Interesting strategic move from Drax following its well-publicised retooling towards biomass-fired generation. The acquisition of Opus Energy would propel Drax's retail arm, Haven, into the top 5 business energy suppliers, and would seem to represent a sound strategy.
It also continues the consolidation of the supply market, and following the high profile failure of GB Energy, more deals for access to suppliers' customer bases can be expected to follow.
Drax has won the approval of shareholders to move ahead with plans to buy business energy supplier Opus Energy in a £340m bid to corner the business energy market. The owner of Britain’s largest power plant is set to become one the UK’s top five energy suppliers to companies by adding Opus’ customer list of small- and medium-sized enterprises to the industrial and corporate scale clients served by its retail arm Haven Power