Hundreds of jobs at risk as Northampton-based energy firm sells majority of accounts to EDF Energy

Opus Energy based at The Lakes Business Park in Bedford Road has been operating in the county for more than 20 years, but has in the last week announced the sale of up to 90,000 Small and Medium-sized (SME) customer meter points.

Drax, a renewable energy company and portfolio holder who acquired Opus in 2017 for £367 million, says serving SME “no longer aligns” with their strategy.

It is believed that around 500 people, from across Northamptonshire, work for the company. Hundreds of these will be made redundant this year, although it is expected that a small number of those will keep their job to work on the remaining SME accounts.

According to one employee, team members were emailed at 8.30am on Wednesday morning (June 26) to call them into meetings - after it had been announced on the stock exchange. They were told in meetings at 9.30am, followed by a further meeting with slightly more detail at 10.30am, before being asked to go back to work at 2pm, according to the employee.

It is expected that the first wave of those who have been made redundant will leave at around the end of August.

A Drax spokesperson said: “Following a long-term strategic review of Drax’s customers business, we have made the difficult decision that serving SME customers is no longer aligned with our strategy and we have reached an agreement to sell the majority of Opus Energy’s SME customer accounts to EDF Energy Customers Limited.

“As part of this sale, the business has launched a consultation process which impacts a number of colleagues.

“As a responsible employer, Drax is committed to supporting all of those who are affected through this consultation. The process incorporates a series of proposed enhanced redundancy terms, contingent on individual eligibility, which go beyond Drax’s statutory responsibilities.

“We have put in place additional support and advice should any affected colleagues require it including outplacement support and workshops on CV writing, interview skills and financial management. We have also established a support hub in the Opus office.”

Read the stock exchange notice here.