All of Spark Energy’s electricity and gas will be supplied by Morgan Stanley Commodities’ trading team, which is based in London.
Chris Gauld, managing director of Spark Energy said: “This is a landmark deal for Spark which allows us to compete with the big six energy companies on a more level playing field.
“Buying our energy through Morgan Stanley Commodities will facilitate further investment into the business, such as the £1.4 million spent on improving our customer service, and also provides increased stability against wholesale price fluctuations, so our customers will continue to benefit from the cheapest energy rates in the market.”
Olivia Hartridge, executive director at Morgan Stanley, comments: “We are delighted to be teaming up with Spark Energy and helping the company to access wholesale energy markets on a collateral free basis.
“This will enable the company to invest capital in the business for the benefit of its customers.”