Ipswich-based Haven Power ‘worth £488m to UK economy’ according to research for owner Drax Group
PUBLISHED: 11:30 18 October 2017 | UPDATED: 11:30 18 October 2017
Suffolk-based energy retailer Haven Power contributed £488m to the UK economy last year, supporting 5,400 jobs, according to a report assessing the economic impact of its parent company, Drax Group.
Haven Power, which employs nearly 400 people at its headquarters on Ransomes Europark, Ipswich and more than 50 at Franciscan House in the town centre, is a leading supplier of energy to the business sector.
The research, by Oxford Economics, found that in the East of England alone Haven Power and Drax combined to generate £232m in the local economy and support 2,200 jobs, taking into account the day-to-day running of the business, activity created by the purchase of goods and services from suppliers and spending in the local area by employees
Employment supported by Haven Power’s activities covered a wide range of sectors including IT, professional business services and transport.
Jonathan Kini, chief executive of Drax Group Retail, which includes Haven Power, said: “This report shows that in addition to being a leading supplier of energy to British businesses, Haven Power also plays an important role in the local and national economy.
“Through the people we employ and the businesses we use, we have supported thousands of jobs and generated nearly £500m of economic activity in Ipswich and beyond.”
Paul Sheffield, Haven Power’s chief operations officer, added: “In addition to employing people from the local area, we use a number of businesses in the region to provide us with products and services that enable us to deliver the best possible experience for our customers.”
Sandy Martin, MP for Ipswich, said: “In recent years Haven Power has grown to become an energy supplier of national importance, working with businesses across the country to use their energy more efficiently.
“In doing so it has become an important part of the Ipswich community, creating jobs, working with local businesses and supporting a range of community initiatives.”