British Gas strikes Robin Hood deal
BRITISH Gas has acquired Robin Hood Energy, the failing council-owned supplier whose clients include former Labour leader Jeremy Corbyn.
The company, which has fallen into heavy debt, has made more than 250 employees redundant as a result, sources say. Staff were told yesterday afternoon they no longer had jobs.
Robin Hood’s 112,000 residential customers and 2,600 business clients will transfer to British Gas over the next few months after the deal closes on Sept 16.
British Gas owner Centrica did not disclose how much it was paying for the company. Chris O’Shea, Centrica’s chief executive, said the deal was a “value-generating” opportunity.
“We are delighted to welcome Robin Hood customers to British Gas. We are pleased to be able to offer every customer moving to British Gas a tariff which means their price will not be any higher and, importantly, they will be supplied with green electricity,” he said.
Robin Hood Energy had hired Deloitte to oversee the sale of its book to British Gas. The firm was launched by Nottingham City Council in 2015 but fell into financial difficulty last year.