The firmus energy group has completed the sale of its gas supply business, firmus energy (Supply) Ltd., to Yuno Group. The supply business has grown to become Northern Ireland’s largest gas supplier by volume, since operations commenced in 2005, and now serves over 113,000 domestic and commercial customers across Northern Ireland.
The gas network business, firmus energy (Distribution) Ltd. will continue to own and operate the ‘Ten Towns’ gas network in Northern Ireland. Firmus energy (Distribution) Ltd. will continue to focus on connecting customers to the gas grid, and enabling the injection of locally produced renewable gases, such as biomethane, into the network.
The change in ownership of firmus energy (Supply) Ltd. will be seamless for customers, who will not be required to take any action as a result of the acquisition.
In welcoming the announcement, Niall Martindale, CEO of firmus energy (Distribution) Ltd. said:
“We are very proud of the gas supply business which has been built over the last 19 years and we are grateful for the loyalty which customers have shown to us over that time. The supply business is now ready to stand alone, and we are confident it will go from strength to strength under the new ownership of Yuno Group, following tremendous growth under its tenure with Equitix.
“We will continue to own and operate the networks business, where our focus will be the continued growth of connections to our gas network, and the injection of renewable gases such as biomethane, which will support a strong local, and circular, decarbonised economy for Northern Ireland.”
This is the first transaction for Yuno Energy in Northern Ireland, and it gives the company a leading role in the energy markets on both sides of the border.
Yuno Group is led by Cathal Fay and is based in Sandyford Business Park in Dublin. Founded by Fay in 2009, the company is one of the largest players in the Electricity and Gas retail markets in Ireland.
To date the company has operated in the Republic of Ireland through Yuno Energy and PrepayPower.
- Yuno Energy provides electricity and gas to homes on a bill pay basis. It began to supply electricity in August 2023 and launched a gas service in September of this year.
- PrepayPower began operations in 2009 and is the largest provider of electricity and gas to the domestic market on a prepaid basis in Ireland.
Yuno Energy and PrepayPower each operate state-of-the-art user apps which give customers significant visibility and control over their energy bills. A sophisticated hedging operation ensures that the companies can provide market-leading prices for gas and electricity.