Economy Power was one of Britain’s biggest independent energy suppliers until it was acquired by E.ON, Powergen’s parent company, for a reported £40m last month. The company, which began trading in 2000 after the industry was deregulated, sold electricity to 45,000 business customers. It bought most of its power from big generators and sold it to customers at prices 25% below what they were paying before. It also sold “green energy” generated by its independent subsidiary, Eco2. This was set up in 2002 to meet government targets on renewable energy and creates power from wind, water and landfill gas. Profits rose 86% a year from an annualised £943,000 in 2001 to £6.1m in 2004.
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