National Power buys failed virtual utility

News

National Power buys failed virtual utility

Mike Simons


Mike Simons

Independent Energy, the virtual utility that went bust after IT problems with its billing system, has been bought by one of the UK's main electricity generators.

National Power is paying just £10m for the Independent Energy which has a £119m backlog of electricity it has supplied but has not been able to bill customers for (Computer Weekly, 14 September).

Independent Energy outsourced its billing to Vertex, a subsidiary of United Utilities, in a deal that was worth £3m up front plus £15 for each customer.

When Independent Energy finally called in the receiver, Vertex claimed it was responsible for just £10m of the backlog and was correctly billing 90% of customers.


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.
 

COMMENTS powered by Disqus  //  Commenting policy