Northampton-based company confident of weathering storm in energy supply industry

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Northampton-based gas and electricity supplier Opus Energy says it is confident it will survive the current industry crisis.

The company employs between 700 and 800 people at its headquarters in The Lakes, just off Bedford Road.

Six national power companies have already collapsed this month and more are expected to follow.

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Opus Energy employs around xxx people at its Northampton head office

But Opus – which focuses on providing gas and electricity to businesses – says it has a strong track record and is better prepared to weather the storm.

A spokesperson for Opus’ parent company, Drax energy group, said: “The UK energy market has been hit by an unprecedented combination of events.

“Drax is the largest producer of renewable electricity in the UK. We have a strong balance sheet and have covered our sourcing activities appropriately, which together should give confidence to our customers and employees.

Opus Energy has grown into one of the UK’s leading providers of commercial energy since its inception in 2002 and now supplies more than 360,000 business premises across the country.

Opus HQ is the former County Council office at The Lakes

It moved to the former Northamptonshire County Council building, John Dryden House, in The Lakes Business Park in 2018 after moving past its old premises in Moulton Park.

A perfect storm of problems coupled with strong global demand has sparked gas prices in recent weeks, forcing some smaller providers in the residential market to shut their doors.

Wholesale prices have increased 250% since the start of the year and 70% since August.

Delays in planned maintenance work on power plants have meant that around 20 percent of UK nuclear power plants are offline.

Declines in solar and wind power due to recent weather conditions have also caused an imbalance between supply and demand.

Experts warn that gas prices are expected to remain high until 2023, and industry sources fear there will only be a dozen suppliers left by the end of the year.


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