Wessex Water has bought utility price comparison company Flipper, and has vowed to invest heavily in the business.
Flipper launched in January 2016 and claims to offer an “innovative and hassle-free” service for residential energy customers to save money on their energy bills.
Unlike a regular price comparison website, the service automatically compares tariffs on a regular basis to ensure that customers are always on the best possible deal.
Wessex Water said the acquisition “underpins its commitment to help ensure customers get value for money, and an easier way to manage their utility services”. The company said it has “exciting plans” for developing the service.
Wessex Water director of strategy and new markets David Elliott said: “Both Wessex Water and Flipper have the same vision to ensure customers are provided with excellent and affordable services.
“It was clear from when we first met that Wessex Water and Flipper share a common vision. I am also delighted that Nigel Evans and Stephen Smith have committed to remaining at the heart of Flipper and helping to drive the next phase of Flipper’s development. We have exciting plans for further developing Flipper that ensures customers don’t overpay for utility services.”
Flipper chairman Nigel Evans welcomed the deal, adding: “Today marks a major milestone for Flipper and a huge vote of confidence in our innovative and disruptive business model to transform the energy market.
“Under the deal, Wessex Water has committed to invest significantly in the business. This will enable us to rapidly grow customer numbers in energy. We will also look to respond to the feedback from Flipper customers and expand our automated switching service to other household bills.”