Pinergy has bought energy saving software supplier, Acutrace, to cash in on demand for businesses seeking to cut their bills.
Acutrace software measures commercial buildings’ energy use, allowing businesses to pinpoint waste and how best to cut consumption.
Energy supplier, Pinergy, said the company, already one of its partners, was a natural fit as it would provide extra analyses, data and software.
Pinergy wants to expand its business beyond supplying power to analysing how customers use energy and advising them on how to cut consumption.
“We are now announcing the purchase of Acutrace to enhance our analysis and analytics capability for measuring usage of energy, water, air quality and other utilities,” said Enda Gunnell, Pinergy chief executive.
Aidan McDonnell, Acutrace chief executive, predicted that Pinergy’s investment would be a game changer.
He and fellow director, Gavin Doyle, will continue to run the business while Mr Gunnell and Peter Bastable will join the Acutrace board.
Pinergy and Acutrace will continue to act as separate businesses, so the deal will not affect the day-to-day operations of either.
Pinergy last month became the first energy provider in Ireland to reduce its electricity prices since 2020 as European wholesale energy price inflation continued to moderate.
The company reduced its standard unit rate by almost 9 per cent from March 31st, which will result in savings of about €183 per year – roughly 7 per cent – for the average Pinergy customer, price comparison website Bonkers.ie said in a statement at the time.
The supplier, which increased its prices by 19 per cent in January, has about 27,000 customers in the Irish market. After significantly hiking its charges over the past two years, its prices were among the highest on the market, according to analysis by the website.
