MANCHESTER, United Kingdom and BOSTON, Oct. 4, 2023 - ESG, a global leader in energy SaaS Solutions, today announced the strategic acquisition of Phidex, an innovative provider of pricing, settlement and revenue assurance software and energy consultancy services.
ESG provides the complete software platform for energy providers, enabling critical solutions in market, customer, renewables and asset infrastructure data management in the United Kingdom and North America. The company serves over 300 blue chip energy players and over 40 million end users worldwide. ESG combines a SaaS architecture, flexible integration and constant innovation with decades of energy sector experience to provide the most adopted software platform in energy retail markets globally. Phidex provides best-of-breed data and pricing services.
"ESG and Phidex are both energy software and data specialists, with highly complementary service offerings and a shared vision of helping energy companies thrive in an ever-changing energy landscape," says Matt Hirst, CEO of ESG. "This powerful combination positions us uniquely in the market, allowing us to continue focusing on our clients' needs and opportunities as a result of significant programmes like Market Wide Half Hourly Settlement in the UK, interval data in the US and the energy transition movement globally."
Energy suppliers and energy providers continue to grapple with market challenges such as competitive pressures, rising costs and regulatory requirements. In a joint market study with Utility Dive to be published at the upcoming 2023 Smarter Energy Insights Forum, findings reveal that energy providers are actively seeking solutions that will unlock the value of data in order to capitalize on future trends in the energy market. Actionable data insights are vital to address market complexities. The ESG-Phidex collaboration will offer enhanced analytics tools and software solutions that empower energy companies to make data-driven decisions.
"This acquisition aligns with our strategy to further harness the power of data for our clients and effect positive changes across the market," adds Hirst. "As the energy market prepares for an exponential increase in energy settlement data being created, we see this as a wealth of data and insights to support profitable decision making for energy suppliers. Our joint expertise and experience will enable our suppliers to develop solutions that can target and serve the future demands of the market."
Richard Carnall, founder of Phidex, stated, "We're thrilled to be able to bring our team's market expertise and industry-leading solutions to the broader ESG client base," he says. "We are excited to be a part of ESG and we look forward to the innovative solutions we can create together for the benefit of energy suppliers and providers globally."
