Energy company Flogas Ireland has entered the electricity market in Northern Ireland with the acquisition of Budget Energy.

Flogas said the deal marks the largest investment it has made to grow its energy business to date and follows its purchase of Just Energy Ireland in November 2019. 

Budget Energy, which trades as BE Energy in the Republic of Ireland, has over 90,000 customers. 

Flogas said the acquisition of Budget Energy will enable its expansion into the residential and commercial electricity market in Northern Ireland, where it has been operating for over 30 years in the LPG and more recently, the commercial natural gas market.

There will be no immediate changes for Budget Energy customers north and south of the border as a result of today's deal. 

Flogas said it will retain the Budget Energy brand name in Northern Ireland and plans to recruit additional personnel in sales, marketing and customer service across the business to support its growth over the coming months.

John Rooney, managing director of Flogas Ireland, said the Budget Energy acquisition is a significant step forward in the growth of Flogas and "accelerates our vision to be one of Ireland's leading all-island energy suppliers."