Spanish utility Iberdrola has become the latest supplier to enter the Irish residential energy market.
Their focus is on renewable energy.
Iberdrola, in Ireland, is part of the Iberdrola Group, one of the world’s largest integrated utilities and a world leader in wind energy. Last year, it announced the launch of its Irish retail business and said it plans to invest over €100m in renewable energy and storage projects in Ireland and Northern Ireland by 2025.
According to it’s own website, the company has over 170 years of experience and is one of the largest electric utilities in the world, supplying electricity to around 100 million people in the countries in which it operates.
But the big news, is that Iberdrola is a leader in clean energies and is currently the top renewable energy producer in Europe and a global leader in terms of installed onshore wind power. It is also recognized as the cleanest electricity company in the USA, with almost zero emissions.
The move into Ireland is part of a company-wide goal to invest around €34 billion to 2022 on renewables and energy network systems and expand in retail markets across Europe.
“We have had renewable generation in Ireland for over 20 years so moving into retail is a logical step,” Colin McNeill, CEO retail Iberdrola Ireland and Iberdrola’s UK arm ScottishPower said in an interview.
The company will be challenging existing market players such as SSE’s Airtricity and Centrica’s Bord Gáis Energy and plans to attract customers by offering competitive prices and 100% renewable electricity as standard.
Initially only electricity will be offered but McNeill said natural gas will be offered from October.