2011 Fast Track 100

Rank: 21   First Utility

Its smart meters send out readings of electricity usage every 30 minutes

The smart meter is at the heart of this energy supplierís national operations. It remotely sends out readings of electricity usage every 30 minutes and gas usage daily, enabling the Warwick firmís 60,000 domestic and small-business customers to monitor consumption online and get accurate bills. Sales grew 115% a year, from £6.1m in 2007 to £60.5m in 2010, though margins were slim. Co-founders Mark Daeche, Darren Braham and Marcus Citron started the business because they believed the benefits of accuracy and online billing of the telecommunications industry, in which they started, could be successfully transferred to the energy sector.

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Company facts

First Utility
Energy supplier
Company website

3-yr av sales growth
114.53% pa
2010 sales£60.5m
2007 sales£6.1m
2010 staff145
Location of HQWarwick
If applicable:
* = annualised figures
á = unaudited accounts