spark energy
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Products & Services
Spark saved after it’s bought by green energy firm OVO
Utility supplier Spark Energy has been bought by Bristol-based renewable energy firm OVO Group just days after Spark announce it was in difficulties, blaming ‘increasingly tough trading conditions’. Spark Energy is the only specialist utility company supplying the rental market and has been in business since 2007, accumulating 290,000 customers and a turnover of £140 million. “We will service our customers, under OVO’s licence, from our existing offices, and continue to grow our niche model of partnering with leading letting and estate agent companies,” says Spark’s CEO Chris Gauld. Based in Selkirk, Scotland, it employs 300 staff and has a significant number of letting agents and landlords including high-profile players including Countrywide. Gauld also said it is ‘business as usual’ and that its acquisition by OVO Group will ‘significantly benefit the rental sector’. He also says Spark’s customers will see no disruption of its service, which offers property portfolio managers and landlords easier and more cost-effective management of their property’s utility bills as tenants move in and out, including during voids. Renewables tariff The deal also brings a first for the rental sector from OVO Group; a 100% renewable energy tariff. Alongside its gas and electricity arm, Spark also supplies…
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Movers & Shakers
Spark Energy appoints new Chairman
Spark Energy, the multi-utility provider to home movers has announced record turnover as it welcomes Kevin Lyon as its new Chairman.
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Latest property news
Many rental properties not affected by letting fees ban, study reveals
The letting fees ban may not impact agents as much as many feared it would, a survey of 30,000 agents has found. Three quarters of those who responded to the survey by The Negotiator in partnership with Spark Energy said between 10% and 25% of their properties under management would be affected by the tenant fees ban, and that only 2% said that ‘most or all’ would be affected. But the issue continues to worry agents, 68% of whom said it still remains their biggest worry for 2018, the survey – which is published in full within the latest issue (pictured) of The Negotiator magazine – found. Among the agents who responded 86% had 500 properties or fewer under management, 8% had between 501 and 1000 and 6% managed more than 1001 properties. But on the ground, agents currently have more pressing operational issues to worry about than the fees ban. Nearly a half of the agents said their biggest issues were damage to properties by tenants while 36% said problems with rental payments came second. Some agents are also becoming irked by what they see as ‘over regulation’ of the rental sector. Among them, 45% said there was too…
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Latest property news
Don’t worry about MEES regulations, leading energy supplier tells letting agents
The soon-to-be implemented tighter EPC regulations for rental properties will not be the headache that many letting agents and landlords have been worried about. That’s the claim made by rental property energy specialist Spark Energy, which says that although the new minimum energy efficiency standard (MEES) will see up to a fifth of properties face sanctions unless they meet at least an EPC rating of E or above, landlords and agents need not worry. It says that despite the £4,000 fines faced by landlords and agents if they rent out properties with and EPC rating below E, it’s also an opportunity to upgrade properties without having to pay substantial sums. MEES regulations Many properties can be brought up to the minimum standard before the rules kick in on 1st April with the financial help of local authority grants, the company says, but knowing how and where to get the funding can be tricky, as the funding deals can be time limited and localised. But there are national schemes too. For example, some rental properties are eligible for funding via the government’s ECO: Help to Heat scheme, which offers two ways to apply for funding. To help navigate the red tape,…
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Supplier advice
EPC armageddon – what will happen when the new EPC rules are introduced?
Darren Ypey, Director of Sales at Spark Energy, discusses property upgrades with partner, Vibrant Energy Matters.
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Supplier advice
Rapid growth in the lettings sector
Ian Crowther of Spark Energy explains how a focussed utility provider can energise your lettings business.
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Latest property news
Rental market specialist Spark Energy acquires broadband firm
Specialist private rental market utility company Spark Energy has acquired Sussex-based broadband, telephone and entertainment packages firm Home Telecom creating what the merged companies describe as the first “multi-utility” firm for the rental sector. Home Telecom, like Spark Energy, has been striving to exploit the huge growth in the private rental sector market in the UK with packages more suited to those renting via Assured Shorthold Tenancy contracts. Specialist provider Spark Energy is one of several specialist providers seeking to challenge the ‘big six’ suppliers in the UK and last year revealed that it is profitable and generating rising revenues, no mean feat in a highly competitive market where many start-up energy companies have floundered. CEO Chris Gauld (pictured) last year told the Financial Times that he expects to see his company’s revenue double by the end of 2018. “As the only energy supply company built around the needs of property managers, landlords and their tenants, we’ve been successful in growing a utilities solution to a national scale saving time, hassle and money for our all of our customers and partners along the way,” says Chris. “I am keen to build on those strong foundations not only by investing in…
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Latest property news
Spark Energy announced as sponsor of The Negotiator Awards 2017
The Negotiator Awards always launches with a bang and this year we are delighted to announce that we have a new headline sponsor – Spark Energy. Entry to the Awards is now open – it’s the only awards programme for estate and letting agents that has no entry fee and as such is truly inclusive, making winning a Negotiator Award the most prestigious accolade an agent can receive. It provides the most powerful of marketing tools to drive your business. You can find out all you need to enter, with full guidance notes, by going to: www.thenegotiatorawards.co.uk The winners of The Negotiator Awards 2017 will be announced at The London Hilton on Park Lane at a black tie gala dinner on 31st October 2017. Spark brings even more energy to the UK’s largest and most respected property Awards.” Announcing the partnership, Awards Director, Sheila Manchester (right) said, “Spark brings even more energy to the UK’s largest and most respected property Awards. “We are delighted to welcome them as our headline sponsor. Once the serious process of judging is completed by our expert independent panel, we look forward to the most exciting event in residential property agency. We’re planning a sparkling evening and…
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Latest property news
Tenants begin to get choosy about who they house or flat share with, report shows
Arguments among tenants over unwashed dishes, late night partying and dirty pants left on bannisters are clearly taking their toll, reveals research out today into the house and flat share market. It shows that 70% of house and flat sharer tenants in the UK are willing to pay on average an extra £112 a month to secure a home with more ideal cohabiters. But some told researchers they would stump up even more; £201 a month, which seems a lot just to avoid unflushed loos, stolen orange juice and waiting ages for a shower in the morning. The research found that being clean and tidy was the most important attribute of being a good flatmate among those polled, that men prefer sharing with three others and females two others. Face-to-face Commissioned by utility company Spark Energy, which is a specialist supplier to the lettings market, the research also reveals that half of all tenants still believe the most effective way to meet people to share a home with is face-to-face, despite the best of efforts of websites such as RoomBuddies.co.uk to convert this into a digital interaction. Spark Energy’s spokesperson Shaun Burnett (pictured) also suggests that a ‘behavioural’ trend may…
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The Negotiator Awards, the leading awards programme for estate and letting agents and associated property industry.
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