AN Irish energy company has announced its expansion into the UK natural gas market.
Vayu said it would target the industrial and commercial sectors. The company currently supplies almost one in four of Ireland's largest natural gas business customers, among them Tesco, IMB, Debenhams and DHL.
Liam Faulkner, commercial director at Vayu, said the company was focusing on becoming a leading provider of gas and energy procurement solutions to businesses across the UK.
Valuing the UK market at more than £7 billion ( e 8.6 billion) per annum, Vayu said the sector was almost 10 times the size of the sector in Ireland and offered significant growth potential. "We believe there remains a large untapped opportunity to deliver new services into the UK market," said Mr Faulkner. "Vayu will be investing heavily in winning customers by changing the way UK businesses view their energy-related decisions and empowering customers to become more active in the area of energy procurement and demand management."
Simon Firth, head of energy services at Vayu UK, said: "This is a very exciting time for Vayu as we enter into the UK market and I believe we have outstanding solutions to offer."