ERM SIGNS BIGGEST ELECTRICITY DEAL TO DATE

Written on the 24 April 2014

ERM SIGNS BIGGEST ELECTRICITY DEAL TO DATE ENERGY company ERM Power (ASX:EPW) has finalised its largest electricity sales contract worth $900 million over three years, with the New South Wales government.

The sales division trading as ERM Business Energy also extended a four year contract with the Australian government by another year, valued at $100 million.

Managing director and CEO Philip St Baker (pictured) says the NSW deal includes the Health Department, Department of Education and Communities and Department of Attorney-General and Justice.

“Coupled with our contract to supply 10,000 plus small sites in NSW, winning the contract for the large sites means we are now one of the largest electricity suppliers to the NSW government.

“The contract was signed at competitive rates and delivered a comprehensive package of risk management, billing and reporting services,” he says.

The Commonwealth contract will continue to cover more than 80 government agencies in the Australian Capital Territory and NSW, including Defence, Parliament House and National Gallery and Museum.

St Baker says ERM’s growth in NSW and Victoria has been notably strong, representing more than half of sales.

“Although we have captured 13 per cent of the Australian business electricity market in seven years, the contracts demonstrate our continuing ability to win large new customers while expanding into the higher margin small business segment.

“They also keep us on track to maintain our strong growth, which reinforces our position as the fourth largest electricity retailer by volume in Australia.”

He says the announcement affirms the company as a customer service leader in the business electricity retail market.

The new contracts will commence in July 2015.

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