Jordan’s began working as a Spark Energy partner in March 2008 and has now benefitted from Spark’s streamlined Utilities Management Service for two years.

Jordan's is one of the North West’s leading letting and property management companies.  They were founded in 1990 by Robert Jordan; since then the Company has expanded to become one of the country’s most respected residential letting and property management businesses. The company is a licensed member of the Association of Residential Letting Agents (ARLA) of which their chairman is a past president.

Kris Jakobsen, Director of Sales & Marketing – Spark Energy, said ‘We are delighted to have reached this important milestone with a company like Jordan’s.’ ‘Our success is built on having positive relationships with our partner companies and that is certainly true in this case.’

William Jordan, Managing Director – Jordan’s, commented ‘As a business we are always looking for ways to add efficiencies, generate revenue and improve the experience for our landlords and tenants.  Spark Energy allow us to do all three and my team find their personal service and fresh approach a real help.  We’re looking forward to many more years of working together.'

One of our major commitments in 2010 is to improve our customer experience whether on the phone, internet or via email.  The first step in the process has been to appoint an overflow call centre to handle excess call volumes at peak times. 

Message Pad, the contact centre services specialist, is delighted to announce a new contract with Spark Energy to provide customer service support for its client base of tenants and landlords across the UK.  Spark Energy is the UK’s only utilities company focused exclusively on supplying gas and electricity to tenanted property.

Message Pad will initially provide an overflow helpdesk for customers wishing to give meter readings, new tenant details and make general enquiries with more functions to follow later in the year.

Spark is the fastest growing utility company in the UK and will shortly be beginning the roll-out of smart meters to all customers. The company’s goals of exceeding industry standards for performance, development and delivery are being achieved by investment in technology and strategic partnerships with specialist service providers such as Message Pad.

Chris Gauld, Managing Director of Spark Energy, comments: “Spark Energy is well aware that the energy industry has a general reputation for poor customer service. We are keen to change this trend and, by working with Message Pad, we are clearly demonstrating our commitment to both improving and delivering excellent service to all our clients.”

Rob Peat, Corporate Development Manager for Message Pad, adds “Spark Energy is a fast growing company with an excellent commitment to providing great customer care. Message

Pad’s ‘people on demand’ services give them access to a highly skilled pool of contact centre agents 24/7 that they can utilise as and when they need to.”

As part of our drive towards achieving our target of supplying 100% of our electricity from renewable sources, Spark Energy is delighted to announce a partnership with Trade Link Solutions.

Established in 1997, TradeLink Solutions Ltd is a family owned, integrated renewable energy company providing commercial and operational expertise for today’s low carbon energy market.

Spark customers will benefit from supply from three schemes – two bio-fuel sites and an Anaerobic Digestion (AD) scheme, with more to follow soon!

As a relatively new addition to the UK utility sector, Spark Energy has been in the position of being able to build the company around leading edge technologies. This has not only enabled it to substantially reduce the administrative costs associated with delivering its services, it has also made it easier to introduce innovative benefits and flexible pricing plans. Indeed, technology is at the very core of Spark Energy’s success – it also pioneering smart meter technology and has aggressive targets for fulfilling power requirements via renewable sources.

Technology has made the company more nimble and competitive, in a market that has been dominated by six utility behemoths, and will play a key role in giving Spark Energy long-term differentiation.

When Spark Energy required a centralised file server to support sharing of files and collaboration across its business, not only within its office but also with board members and external consultants, it immediately recognised the advantages of cloud computing. PJ Darling, CEO at Spark Energy, had used cloud computing technology in previous businesses and understood how it can help in growing a company with low capital expenditure and making cash flow more predictable.

By sharing files in the cloud, Spark Energy wouldn’t have to invest in servers and wouldn’t have the hassle and cost of setting it up or rectifying problems. Furthermore, it wouldn’t face the substantial cost of setting up virtual private network (VPN) in order to provide secure and remote access.

The attraction of Humyo

With previous experience in using cloud computing services, Darling recognised the importance of a User-friendly interface.

“The nuts and bolts behind different cloud computing services are more or less the same,” comments Darling.

“It is the way it is presented to the user that makes it different – the biggest issue is getting people to use it so the interface is key.”

He also wanted a system that he could administer himself and that supported permission-based access - this way he could very easily control who gets access to which files and folders. Furthermore, he required a reliable and trustworthy provider that was well-funded and would still be operating for many years to come.

Humyo not only satisfied all of these requirements, it was also an extremely cost effective solution. Having briefly trialled it, Darling immediately set it up for additional users and a larger volume of storage space before rolling it out.

“In the time that it would have taken to figure out how to set up a traditional server in the office and

find someone to do it for me, I was already up and running with humyo,” continues Darling. “Not only that but I don’t have any of the administration costs and it works fantastically. It has also been excellent from a security perspective - in fact, we don’t even bother doing any offline back up as it wouldn’t provide any additional security to us.”

Lightning fast set up

With humyo now up and running, Spark Energy’s staff can share files just as they would with a traditional file server. Furthermore, they can access files whether they are in the office or on the move while board members can very easily access management files remotely.

The company can also rapidly create an additional workspace whenever it sets up a new project and can very easily share information or restrict access in order to maximise collaboration with external consultants while securing sensitive information.

Many of the staff, including the CEO, are also now using Humyo to safely store family photos and videos.  “You can actually manage all your work stuff and private stuff through one interface which is great and has definitely encouraged everyone to use it more,” continues Darling. “It isn’t a cost issue for the business either as storage is so cheap – in fact it is so low that I don’t know what it is!”

www.humyo.com - January 2010

In times of crisis, obscure investment opportunities seem to rise to the fore, and none come more alternative than the new offering from utility company Spark Energy.

The Spark Energy bond aims to pay 6% pa interest; in addition it is offering free gas and electricity to investors (provided that they switch to Spark Energy as their suppliers) for two years - the lifetime of the bond - to a limit of £1,000 pa.

It is hoped that £1m will be raised through investment in the bond, to be used for working capital by Spark, based in Scotland, to invest in new technology and distribute next generation power meters for all of its customers. It will also use the capital to purchase utilities for the future.

Minimum investment in the bond is £5,000 and each investor can apply for up to £25,000 worth of bonds. There are no AMC, performance fees
or initial charges attached to the bond.

In the past, several companies have offered shareholder perks as an investment incentive. Examples include the Channel Tunnel that originally offered free or subsidised travel to all investors in the original public offering. P&O European Ferries also offered discounted ferry fares to investors and Sketchley's offered discounted dry cleaning.

This latest launch is positioned as an alternative to traditional fixed rate bonds, and Beer & Partners, the investment adviser administrating the bond, believes that direct investment in small business is becoming an increasingly attractive option during the downturn.

The possibility of saving £2,000 on gas and electricity in a time of rising prices also adds to the appeal. According to uSwitch.com, the average annual household cost of gas and electricity currentiy stands at £1,239, which means that huge savings will be made on utility bills.

This added incentive outstrips the best two year fixed rate bond currently available on the market, currently the AA two year fixed rate bond, which is paying 4.35% - just taking the £2,000 worth of utilities equates to a 20% return alone, regardless of whether any interest is paid.

The 6% pa interest, paid quarterly, will be taken from Spark Energy profits but if the company becomes insolvent, or does not make a big enough return - a
possibility in the current climate - it may not be able to pay the full 6%, or any interest payments at all. The exact value of the free utilities over the two years also depends on how much Spark charges for a unit of gas or electricity compared to other suppliers, as higher unit prices would dilute the value.

According to uSwitch.com, Spark's energy prices are about average at present.

Money Management Magazine, September 2009

You can't often get money out of a meter but now, if you are a managing agent, you can. Specialist utility provider, Spark Energy, says it aims to remove the hassles associated with managing tenant utilities, while earning commission for each property converted to Spark.

Spark offers £45 commission for each property converted to their service - £ 10 is paid upfront, followed by three further payments of £15 at the 12 month and £10 at the 2k and 36 month milestones. The energy provider takes care of all the admin involved in change of tenancy on behalf of its agent partners, from ensuring accurate meter readings to handling the transition process. A dedicated Partner Manager is allocated to each management company, instead of a helpline.

Spark is also installing Smart Meters into all customer properties. This technology ensures accurate bills, no requirement for physical exit or entry meter readings, a reduction in the occurrence of unpaid tenant bills and improved operational efficiency.

PJ Darling, Chief Executive, Spark Energy, says, "From September, every time one of our partners' properties becomes void between tenancies, in addition to being switched to Spark, a Smart Meter will be installed to allow energy usage to be read remotely, streamlining operations. New tenants will then be contacted on their move-in date and informed about the service. From a consumer perspective, the Spark tariff is guaranteed to be below the average of the 'Big 6' suppliers' standard rates for dual fuel. In addition, the Smart Meters will allow residents to monitor the amount of energy they are using on a daily basis, lowering their carbon footprint and the household bills, and remove the hassle associated with physical visits from meter readers."
 

Spark is currently working with 219 partners, representing 86,000 properties across the UK. Current partners include Touchstone, Jordans and Ludlow Thompson. New tenants do not have to keep Spark Energy as their utility provider.

PROPERTYdrum Magazine, September 2009

www.propertydrum.com/articles/sparkenergysept

provider, www.

A utilities start-up looking for cash is giving investors the chance to share in its growth with an eye-catching bond offer—and there's free fuel, too

It's a classic entrepreneurial conundrum: the banks aren't playing ball, but you don't want to give away any more equity. Where do you turn? Utilities start-up Spark Energy chose an innovative bond scheme to help raise much-needed funds. If investors like what they see, it could raise £1.3m at a crucial period in the company's growth.

The Spark Energy Bond is a £5,000 two-year product, offering returns of six per cent a year, paid quarterly to investors. And here's the hook: investors qualify for two years' free gas and electricity up to a maximum value of £1,000 a year, a potential return to the value of 52 per cent.

Spark founder and chief executive PJ Darling says that conventional sources of finance aren't always the best option. "Given we are one of those no-man's-land companies, too big to be small but too small to be big, funding is always a struggle, because we don't need VC funding and frankly don't want it," he explains.

Darling set himself a target of owning at least 25 per cent of Spark. "I don't feel like losing any more of the company," he adds. "It's not cheap money but it's a lot cheaper than not taking advantage of the opportunities we've got."

Spark's investment adviser, Beer & Partners, which has already provided the company with equity capital through its network of angel investors, will sell the majority of the bonds to "small and medium-size investors".

Beer & Partners chief executive Michael Weaver says the scheme will have wide appeal, especially with those looking for a simple, no-frills investment. "PJ came up with this idea of widening the shareholder base with some smaller shareholders. With a small investment you don't want to do masses of due diligence so it had to be straightforward," he says. "I think it will bring people who haven't been angel investors in the past into an environment where they may become angel investors in the future; it's a taster."

Darling says the money is "about protecting the downside risk". Spark wants to fit smart meters in the homes of all its customers, mostly landlords and letting agents. The firm also aims to upgrade its billing and registration software to the package that "95 per cent" of the industry uses. "Rather annoyingly," Darling adds, "half the money we're raising is purely to post as collateral for our trading activity, so it sits there in an escrow account doing nothing."

Tongue in cheek, Darling says he is "fortunate" to be allowed a £25,000 overdraft by his bank. If the bond issue is successful, he believes it's a source of finance the company could return to "again and again". But, he admits: "I have absolutely no idea how it's going to perform."

Spark's bond scheme is similar in style to the "shaving bond" issued by King of Shaves, which founder Will King launched to customers in June. King believes the scheme represents a useful alternative to the "restrictive, covenant-heavy" loans currently offered by the banks. King of Shaves bonds pay out six per cent a year over three years, but in a fiercely competitive shaving products market, King views the cost of finance as a marketing expense.

Darling points out that his bond issue is purely financial. "I'm not so fussed about profile," he says. "In the winter we had more customers than we wanted. It's good to build profile from the City perspective... but I'm more interested in getting the funds."

Director Magazine, September 2009

http://www.director.co.uk/MAGAZINE/2009/8%20September/finance_spark_63_01.html

In an innovative bid to raise funds in a climate where bank lending remains restricted, the UK’s fastest growing utility provider, Spark Energy, has launched a new bond via investment advisor, Beer & Partners, which offers attractive returns of up to 26% per annum including two years’ free gas and power.

The Spark Energy Bond is a £5,000 two-year product, which guarantees high returns of 6% per annum paid quarterly to investors, as well as two year’s free gas and power for the home, or other nominated property, up to a maximum value of £1,000 per year. The Bonds are available from 1 August 2009.

For an initial investment of £5,000, an investor will receive £600 interest and up to £2,000 free gas and power over the two year period – a potential total return of £2,600 or £52% on the original investment.*

Each investor can apply for up to £25,000 worth of Spark Energy Bonds in multiples of £5,000. A total of 200 bonds are available.

PJ Darling, chief executive of Spark Energy, comments: “By launching the Spark Energy Bond, we are aiming to offer investors attractive and secure returns while meeting our fundraising target and enabling the company to continue along its strong growth path. In the current financial climate where traditional lending from banks is restricted, businesses face an even greater challenge to raise investment capital, and thinking out of the box is essential. Following the success of the King of Shaves’ innovative ‘Shaving Bond’ launched earlier this year, which offered strong returns of 6% per annum, in addition to an ongoing supply of free products for all investors, we have been inspired to launch our own offering using the same concept.

“At 6% per annum, the lucrative return offered by the Spark Energy Bond is twelve times greater than the current Bank of England Base Rate and, as an added incentive, we are including two year’s free gas and power for all bond holders, a move which we expect to be popular, particularly as utility bills remain high.

“This fundraising initiative will enable us to invest in new software technology and the rolling out of Smart Meters to all of our customers, as well as ensuring our supplies of gas and power are secured over the longer term.”

Michael Weaver, CEO of Beer & Partners, added: “The balance of investment opportunities is shifting as capital markets become too risky and traditional savings rates fail to deliver appealing rewards. As such, direct business investment is an increasingly attractive option for those seeking better returns. Spark Energy’s initiative is an innovative, yet very pragmatic way of tackling funding gaps by offering small and medium size investors attractive returns in addition to some interesting energy cost savings.”

To apply for a Spark Energy Bond, or for further information, investors should visit the company’s Investor Portal at www.sparkenergy.co.uk/investors and click on the link for Spark Energy Bond, or contact the Investor Relations Team at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .