Corona Energy was founded in 1995 and are currently one of the leading suppliers in the UK for business gas and electricity. The energy supplier was acquired in 2006 by the Australian financial company Macquarie Group.
Corona Energy supply energy to roughly 13,000 non-domestic customers and they are responsible for over 85,000 meters nationwide. Corona Energy supply energy to mainly micro-businesses, small businesses and medium-sized companies (SMEs). These make up around 75% of their supply. The other 25% of their accounts are industrial and commercial (I&C).
Corona Energy Today
Today, Corona Energy have over 200 customer service experts in their team and supply 14% of the industrial and commercial gas market. Corona Energy has four principles that they endeavour to follow daily within their business. They are:
- Putting the customer first.
- Empower people.
- Be forward-thinking.
- Keeping things simple.
Corona Energy also has an emphasis on helping in the community. One of their latest programs was a community outreach scheme in 2018. It focused on a primary school in their local Watford area. The energy supplier helped the primary school in numerous ways, such as donating school uniforms, raising money with charity auctions and offered time to help with learning.
They also supported other local Watford organisation, the Small Acts of Kindness charity. The charity’s aim to supply gifts to the elderly who may require some support and reduce the impact on loneliness. Corona Energy supports this great cause to reduce mental illness in the community.
Corona Energy has a focus on diversity, employing people from a range of backgrounds, creating a diverse culture and a workplace they are proud of. They also have several awards. Corona Energy has held the Investors in People Gold award over the previous 4 years and has also won the Hertfordshire Charitable Business Audentior Award.
Who Owns Corona Energy?
Australian financial company Macquarie Group acquired Corona Energy in 2006.
Where are Corona Energy Based?
Corona Energy is based in Watford, Hertfordshire in the UK.
Who is the CEO of Corona Energy?
The CEO of Corona Energy is Neil Mitchell. He has been working at Corona Energy since 2004.
Where Are Corona Energy’s Headquarters?
Corona Energy’s headquarters are in Edward Hyde Bldg 38 Clarendon Rd, Watford, Hertfordshire, WD17 1JW, United Kingdom
Is Corona Energy Green Efficient?
When deciding on their office space, Corona Energy kept in mind the value of renewable energy and keeping a green profile. These office headquarters offer the following:
- Electric vehicle (EV) charging points
- 100% renewable energy on-site.
- Zero waste to landfill
- A bee colony, helping to keep the species population thriving and producing local honey for employees.
- On-site food composting
- Rainwater harvesting
- 100% rainwater services
- Cardboard baling scheme
Corona Energy also has recently kept to a ‘paper-light’ scheme for using less paper and limiting printing. Customers are encouraged to use myCorona for billing online.
Corona Energy’s renewable source is REGO verified, Ofgem’s Renewable Energy Guarantees of Origin. This gives you the confidence that for every unit of power supplied via their source, a generator will produce an equivalent amount of green electricity.
Products and Services
Corona Energy has a range of tariffs with protection on energy prices for up to 36 months. Also, with a focus on a renewable future, Corona Energy offers green energy contracts that are supplied with 100% renewable energy.
If you have recently moved into a property that is supplied with energy from Corona Energy, however, you don’t agree to a contract, Corona Energy with automatically place you on a deemed tariff.
Also, if you do not contact Corona Energy before the contract agreement expires, you will be placed on a deemed tariff.
You will also be placed onto a deemed tariff if your current contract agreement expires and you fail to contact Corona Energy asking to be put on a new one.
Corona Energy’s business gas rates are separated into six bands. Your unit rate price does not change, no matter the amount of gas you use per day, however, the standing charges do increase depending on your estimated annual consumption.
Deemed gas rates
|Band||Estimated annual consumption||Unit rate||Standing charge|
|Band 1||Up to 73,200 kWh||5.90p per kWh||£3.00 per day|
|Band 2||73,200 – 300,000 kWh||5.90p per kWh||£6.00 per day|
|Band 3||300,000 – 750,000 kWh||5.90p per kWh||£9.00 per day|
|Band 4||750,000 – 1,450,000 kWh||5.90p per kWh||£15.50 per day|
|Band 5||1,450,000 – 3,000,000 kWh||5.90p per kWh||£25.00 per day|
|Band 6||More than 3,000,000||5.90p per kWh||Depends on site|
Once your contract with Corona Energy expires, or it is terminated and you have not switched suppliers, the supply for gas and/or electricity to your premises would be at an out of contract rate.
|Gas||Site AQ Band – kWh||Unit rate (p/kWh)||Standing Charge (£/day)|
|Band 6||>3,000,000||5.90||Site specific|
Corona Energy Fuel Mix 2019/20
For energy companies in the UK, each supplier uses a different mix of energy sources when generating energy. For these suppliers, it is a legal obligation to disclose this information, with the full mix of their fuel sources. Below is a table of Corona Energy’s fuel mix for 2019/20.
|Fuel||Percentage||Average for the UK (for comparison)|
What Is Corona Energy’s Carbon Emissions?
Corona Energy’s carbon emissions are listed below. The table also shows a comparison to other leading energy suppliers.
|Company||CO2 Emissions||Radioactive Waste|
|Corona Energy||345 g/kWh||0.00053 g/kWh|
|Gazprom||282.63 g/kWh||0.00043 g/kWh|
|Scottish Power||264g g/kWh||0.0004g g/kWh|
|UK Average||205 g/KWh||0.0012 g/KWh|
Board of Directors and Key Staff
Neil Mitchell – CEO
Neil Mitchell has been working in the energy industry for over 20 years and started with Corona Energy back in 2004. He previously held the position of commercial director at Corona Energy and studied at York St. John University.
Phil Morton – Finance Director
Phil Morton started at Corona Energy in September 2017 as finance director. He has held this role at other firms before his current role. His financial experience has seen him work with companies such as Alliance Group NZ, WiseHead Productions, Britvic and TalkTalk.
Shaheda Begum Thomas – Secretary
Shaheda Begum Thomas joined Corona Energy in 2018 following other legal counsel roles at Sealed Air Corporation and Barclaycard. She studied law at the University College Northampton and BBP Law School.
Zsuzsanna Kispal – Head of HR
Zsuzsanna Kispal studied financial economics at Szent István University and has worked at Corona Energy for over 12 years. Holding numerous roles at the company, such as training officer and human resources manager, she has key achievements including an in-house recruitment function with increased direct recruitment from 14% to 90%.
Kim Warnica – Head of Customer Service
Having been at the company since 2012, Kim Warnica is responsible for customer service at Corona Energy, including billing functions, with a proactive approach to billing accuracy and customer account management,
Australian company Macquarie Bank acquired Corona Energy back in 2006. From the terms of the acquisition, Corona Energy will become a wholly-owned subsidiary of the Macquarie Bank Group, however, they will continue to operate with the name Corona Energy.
Macquarie is a global financial services group. They operate in more than 30 markets, such as retail and business banking, leasing, wealth management and asset financing. The company was founded in 1969 in Australia. They have delved into the energy market by acquiring companies such as US suppliers Cook Inlet Energy Supply and Constellation Energy.
Websites and Social Media
|Customer service||0800 804 8589|
|Sales support||0800 804 8589|
|Gas emergency||0800 111 999|
What is myCorona?
With Corona Energy, you will have a myCorona account. This allows you to manage your gas and electricity account all online, removing bills in the post. myCorona is available twenty-four hours a day, seven days a week.
Your myCorona online account allows you to do the following:
- Submit meter readings
- View bills and billing history
- View consumption
- Make and track a query
Corona Energy In Recent News
In a recent note from CEO Neil Mitchell, Corona Energy announced their robust Crisis Management, Disaster Recovery and Business Continuity Plan (BCP) which are in place for a range of scenarios, such as pandemics. Corona Energy enacted their BCP and aim to still provide their standard service with an ongoing focus on the wellbeing of our dedicated team.
Corona Energy has been in the news in the last ten years due to various factors, including the global COVID-19 pandemic. The outbreak of the coronavirus has had a significant impact on the energy sector, leading to changes in procurement, supply chain operations, and business strategies.
As a supplier in the energy industry, Corona Energy had to navigate the challenges brought about by the pandemic. They faced disruptions in the supply chain, changes in customer demand, and the need to ensure the continued delivery of energy services amidst the outbreak.
The company’s response to the COVID-19 pandemic, such as adjusting procurement strategies and optimizing supply chains, garnered attention from news outlets like the Financial Times. They were featured in articles discussing the impact of the coronavirus pandemic on the energy sector and how suppliers like Corona Energy were adapting to the changing landscape.
Corona Energy’s efforts to ensure business continuity, support customers, and respond to the challenges posed by the pandemic were subjects of interest in the news. Their ability to navigate the crisis and continue providing essential energy services was noteworthy.
Furthermore, Corona Energy’s role in analyzing the changing market conditions, optimizing supply chains, and embracing digital transformation to address the pressing issues facing the industry was highlighted in news coverage. Their adaptability and resilience in the face of the pandemic were recognized as key factors in their success.
What Does The Future Hold?
The future holds both challenges and opportunities for Corona Energy in the aftermath of the COVID-19 pandemic. As the energy sector continues to adapt to the new normal, Corona Energy will need to navigate changing market dynamics, optimize their procurement and supply chain strategies, and embrace digital transformation to remain competitive.
The pandemic served as a wake-up call for businesses across industries, including energy suppliers like Corona Energy. It highlighted the need to rewrite procurement practices and rethink supply chain operations to enhance resilience and responsiveness in the face of disruptions. Corona Energy will need to continue analyzing market trends, leveraging data analytics, and optimizing supply chain processes to effectively meet evolving customer needs.
Remote work and digitalization have become integral parts of the business landscape, and Corona Energy should further optimize their operations in this regard. Embracing technology, automation, and remote work capabilities will allow the company to enhance productivity, streamline processes, and adapt to changing customer demands.
The global supply chain has faced unprecedented challenges during the pandemic, and Corona Energy should proactively manage potential disruptions. They should diversify their sources, strengthen relationships with suppliers, and assess the resiliency of their supply chain to mitigate risks.
Furthermore, the transition to a low-carbon economy and the increasing focus on renewable energy sources will require Corona Energy to adapt their business model accordingly. They should explore opportunities in renewable energy procurement, invest in green technologies, and support the decarbonization efforts of their customers.
To quote a Harvard Business Review article, “Organizations that can adapt quickly to changes and leverage new sources of supply will be better prepared for future disruptions”. This mindset of adaptability and agility will be crucial for Corona Energy in the coming years.
Key Financial Data
The financial statements for 2022 showed a profit of £13.1m, which is a decrease of £1.6m from the previous year.