The acquisition of Essent by Luminus: what will change for customers
It’s official! From the second quarter of 2021, supplier Essent will belong to energy giant Luminus. It will therefore no longer supply energy on Belgian territory. So what will become of Essent customers and how will the transaction play out? Let’s look at this transfer in more details.
Acquisition of Essent: a strategic plan by Luminus
A subsidiary of the German group E.O.N, Essent has established itself in Belgium since the liberalisation of the energy market in 2007. In fact, with its 520,000 supply points, it is considered to be the fifth largest supplier in the country at the moment. So in order to strengthen its position as number two, Luminus formalised the acquisition of Essent in an agreement signed in early February 2021.
Grégoire Dallemagne, CEO of Luminus, even confirms that this acquisition will allow the group to continue developing its strategy as well as its desire to move towards a carbon-neutral world. Two objectives are possible through their supply and production of electricity, but also, through the innovative solutions and services offered to consumers. The Minister for Energy Tinne Van Der Straeten (Groen) confirmed his desire to “guarantee a level playing field” so that the smallest suppliers can also remain full-fledged competitors in the market.
