Irish state-owned electricity company ESB has acquired a 75% stake in the energy supplier So Energy.
The new combined entity, created following the deal between ESB Energy and So Energy, includes more than 300,000 customers who will not be affected by the merger.
Simon Oscroft, So Energy Co-Founder and Co-Chief Executive Officer said the merger will transform the firm into the “next big green energy supplier” in the UK.
Mr Oscroft added: “By merging with ESB Energy, we are gaining access to that experience, as well as resources we simply wouldn’t have been able to benefit from prior to today.”
ESB Energy said it will change its name to So Energy as a result of the merger and added: “The deal will mean we can further invest in new and exciting green solutions for our customers.”