5. Economy Power
Energy supplier | Established in
Last year’s fastest growing firm, Economy Power has, within three years, grown to an annual turnover of £62 million in 2003, which represents a year-on-year growth rate of nearly 500% since 2001. It also employs approximately 230 staff, mainly based in Cardiff and with a sales office in Manchester. The Economy Power Group consists of two companies, namely Economy Power Limited and Eco2 Limited. Economy Power Limited is an electricity supply business that provides low cost power to UK businesses including sporting, voluntary and public sector organisations. Eco2 Limited has been established to develop renewable energy projects in the UK as all electricity supply businesses have to secure a proportion of their energy from renewable sourced generation. The objective of setting up Eco2 is to not only securing the Renewable Obligation Certificates to meet the company’s obligations but also to take advantage of a new business opportunity within the electricity market sector. The business continues to go from strength to strength and gained the Investors in People award in May 2003. The business was voted "2004 UK Best Places to Work in IT (Utilities industry)" - beating Virgin Mobile in the final – and won the Western Mail Fast Growth Excellence Award for 2004.
390.5% growth between 2001 and 2003