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.
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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.