Business Electric Big Six And Their Reported Profit And Customer Loss
Unlike before, the United Kingdom has over 40 business electric suppliers to choose from. It ranges from small energy companies to the largest suppliers; each having their own tariffs, discounts, energy bundles to offer. However, despite the wide range of competitors, there were only six companies which continuously stand out.
Known as the Big Six, these companies supply energy to over 90% of the UK homes and businesses and despite numerous complaints and switches, these providers have consistently dominated the UK energy market.
The Big Six companies are British Gas, EDF Energy, E.ON UK, NPower, ScottishPower, and SSE. Amidst the growing competition in the energy market because of the rise of small and independent gas and electricity suppliers, these energy companies remained as the leading carriers.
British Gas is known as the largest electricity and gas supplier in the United Kingdom. Founded in Staines-upon-Thames, United Kingdom, the company has over 10 million domestic customers which are handled by over 33,000 staffs. However, in 2015, the energy provider suffered a loss of £1.1bn and decrease in energy customers due to their price hike. The company regained its loss by offering cheaper electric and gas prices.
EDF Energy is located in London, England and it is housed by over 13,000 employees. The electric and gas supplier caters to more than 5 million customer accounts, both residential and commercial. The large integrated company, despite being established for a long time, has also suffered a monetary loss of about £92 million in 2012. Until the current time, the energy supplier is receiving various complaints due to poor customer service and price hike. Nevertheless, it remained as one of the largest energy suppliers in the UK.
The largest investor-owned gas and energy supplier was once under Powergen, however, in 2007, it was obtained by the German E.ON Group. The energy company was known to provide only in the Midlands region but after the acquisition, the number of areas supplied increased. Known as one of the members of Big Six, E.ON UK has over 5 million customers handled by over 15,000 staffs in the UK alone. Meanwhile, it has over 79,000 employees worldwide. The energy supplier also owned the formerly named company, PPM Energy, which is now named as Iberdrola Renewables.
The leading electric and gas supplier in the United Kingdom was originally founded by Innogy Plc, however, in 2002, RWE obtained the energy company. The now German-earned energy supplier caters to over 6 million household and commercial customers, making it one of the largest energy suppliers in the UK. However, the company was not able to escape complaints and profit loss especially in 2014. Fortunately, it was able to regain its losses in 2016 after signing up over 100,000 domestic customers.
Located in Glasgow, Scotland, the electric and gas company serves to over 3 million customers which are handled by over 9,000 employees. The energy company was a previous constituent of the FTSE 100 Index but in 2006, it became a subsidiary of Iberdrola. It has been involved with price fixing issue together with the other Big Six in 2014, stating that the price hike is due to high wholesale energy costs.
SSE or Southern Electric Business Electricity is considered as one of the largest UK electric and gas supplier. Its staff, which is about 21,118 in total, handles more than 2.8 million home and business customers. The British energy provider, which is located in Perth, Scotland, is not only involved in supplying gas and electricity but also other services such as telecom networks, metering, contracting, and gas storage. Although it has suffered customer and profit loss in 2014, SSE was able to compete strongly in the energy market after offering fixed prices to its consumers.