Wednesday June 4, 11:27 AM
Stagecoach awards 3.5 million pound power contract to Opus Energy
LONDON (Thomson Financial) - Business power supplier Opus Energy has won a 3.5 million pound contract to supply electricity to the UK bus division of Stagecoach Group Plc (LSE: SGC.L - news)
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Stagecoach, which has about 7,000 buses, has awarded privately-owned Opus a two year contract to supply 350 sites and bus depots across the UK.
Opus said the contract would allow Stagecoach to directly access wholesale energy prices and to buy electricity at the prevailing market price to match its demand. Opus Energy is also installing smart meters across Stagecoach's sites.
Opus has offices in Oxford and Northampton and more than 40,000 customers across the country, including Yell Group (LSE: YELL.L - news) , Thorntons (LSE: THT.L - news) , Reuters (LSE: TRIL.L - news) , Farmfoods and Deloitte & Touche.
Its management team has a majority stake in the business, while International Power Plc holds 30 percent and Telecom Plus Plc (LSE: TEP.L - news) has 20 percent.
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