Spark Energy hails 'landmark' deal with Morgan Stanley Commodities
- 23 January 2014
- From the section South Scotland
Borders-based Spark Energy has said signing its first wholesale trading agreement will help it to compete with the big six UK suppliers.
The deal with Morgan Stanley Commodities will see it supply all of the company's gas and electricity.
Spark, which employs 200 staff in Selkirk, said it would allow for further investment in the business.
Morgan Stanley said it would help the firm "access wholesale energy markets on a collateral-free basis".
Chris Gauld, Spark Energy's managing director, said: "This is a landmark deal for Spark which allows us to compete with the big six energy companies on a more level playing field.
"Buying our energy through Morgan Stanley Commodities will facilitate further investment into the business, such as the £1.4m spent on improving our customer service."
He said it would also provide "increased stability against wholesale price fluctuations".