ES Power’s customers existing contracts worth $15m will be novated to iSwitch.
Electricity retailer iSwitch and ES Power have formed a new partnership of their electricity retail businesses in a deal involving over $15m worth of retail electricity contracts, an announcement revealed.
ES Power is the energy brand of Environmental Solutions Asia (ESA), which specialises in retailing green energy to consumers.
Under the partnership, ES Power’s customers’ existing contracts will be novated to iSwitch. With the novation, iSwitch will undertake and honour the same electricity rate and all contractual terms and conditions of the existing contracts with ES Power.
“The transfer process is purely administrative and performed electronically, and there will be no disruption to customers’ electricity supply,” the firms highlighted. Existing customers of ES Power have been notified of this transition, which is expected to be completed by the end of June.
Both retailers also announced a joint marketing initiative to help promote sustainability and a greener Singapore. Through this initiative, iSwitch will be the licensed electricity retailer to supply electricity to all its consumers. ES Power will “green-up” the electricity usage of iSwitch’s customers’ by offsetting all carbon emissions through the process of retiring carbon credits and renewable energy certificates where applicable.
Do you know more about this story? Contact us anonymously through this link.