Energy market 3 May 2022 • 4 minutes
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.
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.
The acquisition of Essent by Luminus means that once the transaction is completed, it will represent a quarter of Belgium’s energy market. That is why, for the sake of fair competition, the European Commission had to rule on the compliance of this transaction. After analysis, the Commission therefore authorised the trade agreement (the amount of which has not yet been disclosed), which should take place in the second quarter of 2021.
If you are an Essent customer, nothing will change with regard to your contract, your rate or even current promotions such as benefiting from the night rate during the day. At least until the contract expires…
As is the usual procedure, Luminus will contact you by mail two months before your contract is due to expire to inform you of your new rates. In general, it is always extended based on the same product. But, in this particular case, Essent contracts will naturally be switched to Luminus products. You do not need to do anything further, but we still advise you to check that the conditions of your new Luminus contract are equivalent to your previous product.
However, if you prefer to opt for another Luminus rate, you are completely free to change the plan at no additional cost. In the event that you received a discount from Essent, the transition between the two suppliers will have no impact on the promotion as it will end anyway when your contract expires. Finally, if you had subscribed to additional services such as boiler maintenance, you will keep these contracts as well.
For now, your Essent contact points remain unchanged. You can still contact your customer service on 02 302 20 00 and connect to your digital customer area MyEssent. If you have a question, the Essent contact form is still available online.
However, by the end of summer 2021, Luminus will contact all Essent customers to update them on the transfer. You will find out what will happen to your MyEssent profile and what your future points of contact will be.
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