Merging two retail energy giants in record time
Following a major European asset swap between E.ON and RWE, E.ON took over npower in 2019. At the time, npower’s retail operations were struggling and significantly loss-making. E.ON looked to us to help them turn this round, from integration strategy all the way through to transforming the combined business.
We covered all the bases – from strategy to people to customer migration
We leapt into action - briefed on a Friday, with a team ready by Monday. Using our knowledge of both E.ON and npower as organisations, we worked hand-in-hand with E.ON’s leadership team to develop an overall strategy and pre-merger plan, highlighting synergies and potential challenges – of which there were many.
Working with E.ON’s transformation director and COO, we then mobilised a joint team responsible for consolidating customers from both businesses onto a new, smarter customer platform. From this, E.ON Next was formed.
We acted as a trusted delivery partner for E.ON through all phases of their two-year transformation programme. Working as one coordinated delivery team, we were able to migrate over 5 million customers on to a brand new platform with minimal issues, setting a new delivery standard for the energy retail market.
A consolidated base of satisfied retail customers and a £300m turnaround within a year
With the merger complete and customers all migrated, we’ve helped E.ON to turn round a £200m loss in 2019 into a £100m contribution to the group in 2020 - far quicker than they could have hoped for. On top of this, customers are rating their experience of E.ON Next significantly higher than before the merger. The business is now ready to take on the rapidly evolving challenges of the retail energy market and flourish.
"Baringa were central to the success of the programme. Their expertise of this market and beyond help me to shape the most practical strategy to achieve our objectives. Moreover, they worked side by side with my team at all levels, getting stuck in with a unique mix of industry expertise and delivery discipline on some of our most complex challenges to produce outcomes at pace."
Ramona Vlasiu, COO, E.ON Next
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