Vayu Energy has announced it is to create 20 new jobs over the next three years as part of its plans to extend into Northern Ireland.

The firm will supply natural gas, electricity and renewables to large scale energy users across the industrial and commercial sector.

Vayu will provide businesses in Northern Ireland with a competitive alternative by allowing customers to take advantage of cheaper prices available in the wholesale gas and electricity markets.

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Valued at over £390 million per annum, the sector offers significant growth potential for Vayu and is a natural step for the company as it continues to expand across the industrial and commercial (I&C) segment of the market. The I&C segment accounts for 20% of total electricity consumption across Northern Ireland and over 50% of gas consumption in greater Belfast.

"We believe there remains a large untapped opportunity to deliver new services to the energy market in Northern Ireland," said Mr Murphy, who is an energy specialist. "Vayu will be investing heavily in winning customers by changing the way businesses view their energy-related decisions and empowering customers to become more active in the area of energy procurement and demand management."

(CD/LM)