COOKSTOWN energy firm Go Power has been awarded a £58 million contract to supply Northern Ireland Water with electricity.
The company - previously branded LCC Power - has taken a massive chunk of the business energy market just three year after being set up.
The latest contract covers NI Water's entire metered electricity requirements over the next two years.
Go Power, which last week illustrated its confidence to grow yet further in the energy sector by sponsoring Ulster Rugby, has won a series of major contracts in recent months including many in the public sector.
It has won tenders to supply power to most of the new councils, Stormont estate, museums and BBC offices across the north and all of Northern Ireland’s street lighting.
However, NI Water is the north's largest energy user making the deal possibly the most significant yet for Go Power.
NI Water's director of finance and regulation Ronan Larkin said: "This is one of NI Water’s largest contracts in terms of annual revenue expenditure. We are confident the terms of the contract will provide excellent value for money for NI Water while meeting our own environmental target of 40 per cent renewable by 2021.
“It is often a surprise to people that NI Water is the largest consumer of electricity. However, with over 26,700km of water mains and 15,250km of sewers and thousands of assets to maintain, electricity is an essential component of our provision of water and wastewater services throughout Northern Ireland.”
Regional development minister Danny Kennedy said the deal represented "good news for both the local economy and the environment".
"I want to congratulate local company Go Power for winning this significant contract. This contract will further deliver NI Water’s policy of being an environmentally friendly and responsible organisation," he said.
Go Power is part of the LCC (Lissan Coal Company) Group which was established in 1986 and imports solid and liquid fuel to distribute across Ireland.
The company rebranded its energy division earlier this year to tie in with its existing Go forecourt business.
Go Power managing director Michael Loughran said: "We are delighted to have secured the contract to supply NI Water, the largest individual consumer of electricity in the NI market.
“We look forward to working closely with NI Water and drawing on our skills and expertise to deliver a first class energy product, customer service and account management.”
The contract terms allow NI Water to use a portfolio approach to buying its electricity, buying different percentages of its load on different dates.
Although common in Britain, this is an unusual practice within the north. It means NI Water will be able to keep its electricity costs within budget by taking advantage of low prices or by avoiding high prices.
